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GOLD: US Inflation Data Gives Gold a Boost.

GOLD
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  • The US consumer price index rose less than forecast giving bonds and gold a reason to rally overnight.
  • The core CPI rose just +0.2%, having languished at +0.03% for four consecutive months.
  • Whilst the CPI print may not predicate a cut in January (following recent stronger than expected jobs data), it does re-ignite the discussion as to rate cuts for the year ahead.
  • Gold got a boost on the CPI print, having fallen to US$2,669.44 during the trading day to close at $2,696.32.
  • Having peaked in late October as interest rate cut expectations grew, gold given back some of those gains and today’s moves takes bullion back to levels of mid-December.
  • UBS has released a report yesterday forecasting gold to reach US$2,850 by year end on trade and geopolitical uncertainties driving investors into the safe haven asset. 
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  • The US consumer price index rose less than forecast giving bonds and gold a reason to rally overnight.
  • The core CPI rose just +0.2%, having languished at +0.03% for four consecutive months.
  • Whilst the CPI print may not predicate a cut in January (following recent stronger than expected jobs data), it does re-ignite the discussion as to rate cuts for the year ahead.
  • Gold got a boost on the CPI print, having fallen to US$2,669.44 during the trading day to close at $2,696.32.
  • Having peaked in late October as interest rate cut expectations grew, gold given back some of those gains and today’s moves takes bullion back to levels of mid-December.
  • UBS has released a report yesterday forecasting gold to reach US$2,850 by year end on trade and geopolitical uncertainties driving investors into the safe haven asset.