Commodities & currencyEconomic Times
Gold slips as strong US inflation bolsters dollar
Neutral0
GreyOak summary
Gold prices declined 0.2% to $3,979.09 as US inflation data exceeded expectations. This strengthened the dollar and increased the probability of a Federal Reserve rate hike in December to 100%. Higher interest rates raised the opportunity cost of holding non-yielding bullion, weighing on its appeal.
What it affects
- GoldNeutral 0
Gold prices edged lower by 0.2%.Rolling sentiment Neutral -2
US inflationNegative 0US inflation data was hotter than expected.Rolling sentiment Negative -16
