Hotter US inflation data sends gold prices down nearly 3%
US consumer price data came in above forecasts, a key measure of inflation that shapes Federal Reserve interest rate decisions.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
US inflation data came in hotter than expected, lifting the dollar and Treasury yields. Gold prices fell nearly 3% as a result. Core services prices and food and core goods prices also rose sharply, according to one analysis.
Why it matters
The data reinforced expectations of a bigger interest rate hike from the Federal Reserve this year.
Coverage
- 10-Year Treasury Yield Spikes as Inflation Spreads across Economy, Driven by Ugly Core Services CPI (wolfstreet.com)
- Gold price falls nearly 3% as CPI tops forecasts, lifting dollar and yields (mining.com)
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