Gold price tumbles as traders book profits after US PPI data

Gold price tumbles as traders book profits after US PPI data

Gold declines over 1% as US PPI rises unexpectedly, countering a weak jobs report and complicating disinflation narrative. Investors anticipate a potential Fed rate cut with high expectations of a 25 bps reduction next week. US Treasury yields see a slight increase, adding pressure to Gold prices as market prepares for upcoming Fed decision.

submitted by /u/Denchock
[link] [comments]

Make a post in our subreddit XGramatikInsights, and your thoughts will appear here!

Share the Post:

Related Posts