Gold risks are increasing, you need to be careful
World gold prices have not changed much and are still anchored at the highest level in nearly 7 months. Earlier in the day, the precious metal was priced at 2,043.1 USD/ounce. For the whole month of November, gold prices increased by about 2.7%.
Yesterday, the US personal consumption expenditure (PCE) price index in November was announced with an increase of 3.5% over the same period last year, slower than the increase of 3.7% in October. This is the preferred inflation measure of the US Federal Reserve (Fed).
The PCE index is the latest in a series of positive inflation data recorded in November, making traders even more confident that the Fed may be done raising interest rates and may even begin to raise interest rates. lower interest rates in 2024.
Besides, the USD-Index has inched back above 103 points but still recorded the sharpest drop in November this year. This is the main reason driving gold prices up in recent days.
Yesterday, the US personal consumption expenditure (PCE) price index in November was announced with an increase of 3.5% over the same period last year, slower than the increase of 3.7% in October. This is the preferred inflation measure of the US Federal Reserve (Fed).
The PCE index is the latest in a series of positive inflation data recorded in November, making traders even more confident that the Fed may be done raising interest rates and may even begin to raise interest rates. lower interest rates in 2024.
Besides, the USD-Index has inched back above 103 points but still recorded the sharpest drop in November this year. This is the main reason driving gold prices up in recent days.
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🔴24/7 support for newbies.
🔴You always have priority.
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