Gold Confirm Buy Chart
Gold price snapped its previous rebound and fell hard on Thursday after traders began to dial down bets for a June Fed interest rate cut following a hotter-than-expected Producer Price Index (PPI) inflation report.
Data showed on Thursday that the PPI for February rose 0.6% MoM, up sharply from 0.3% in January while beating the market estimate of 0.3%. The reading was the highest rate since August 2023. PPI increased at an annual rate of 1.6%, up from a revised 0.9% in January.
Data showed on Thursday that the PPI for February rose 0.6% MoM, up sharply from 0.3% in January while beating the market estimate of 0.3%. The reading was the highest rate since August 2023. PPI increased at an annual rate of 1.6%, up from a revised 0.9% in January.
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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.