Gold soars over 2% as USA inflation data cements Fed slowdown bets
Posted: Fri Nov 11, 2022 2:37 pm
Gold prices rallied over 2% on Thursday to a more than two-month high as data showed USA inflation cooled off a bit in October, lifting hopes that the Federal Reserve would adopt a less aggressive approach to rate hikes.
The USA consumer price index (CPI) rose 0.4% last month after climbing by the same margin in September, the Labor Department said. Economists polled by Reuters had forecast an advance of 0.6%.
Read more here:
https://financialpost.com/pmn/business- ... own-bets-2
The USA consumer price index (CPI) rose 0.4% last month after climbing by the same margin in September, the Labor Department said. Economists polled by Reuters had forecast an advance of 0.6%.
Read more here:
https://financialpost.com/pmn/business- ... own-bets-2