Gold Spot / U.S. DollarUpdated World gold increased sharply after CPI news
Gold prices edged higher on Thursday after US CPI data fell more sharply than expected in June, boosting hopes of a September interest rate cut from the Federal Reserve.
The consumer price index (CPI) fell -0.1% last month after reaching 0.0% in May, the US Bureau of Labor Statistics said on Thursday. Latest inflation data good than expected, as economists were expecting a 0.1% increase.
Over the past 12 months, headline inflation rose 3.0%, below expectations of 3.1% and slower than May's 3.3%, the report said. Core CPI, excluding food prices and volatile energy, up 0.1%, better than expectations of 0.2% and May's 0.2% gain.
The report also said annual core inflation rose 3.3% in June, also better than expectations and the previous month's 3.4% increase.
The consumer price index (CPI) fell -0.1% last month after reaching 0.0% in May, the US Bureau of Labor Statistics said on Thursday. Latest inflation data good than expected, as economists were expecting a 0.1% increase.
Over the past 12 months, headline inflation rose 3.0%, below expectations of 3.1% and slower than May's 3.3%, the report said. Core CPI, excluding food prices and volatile energy, up 0.1%, better than expectations of 0.2% and May's 0.2% gain.
The report also said annual core inflation rose 3.3% in June, also better than expectations and the previous month's 3.4% increase.
Note
SELLL XAU 2412TP2: 2405
TP2: 2400
SL: 2420
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.