Gold Prices rose on Thursday following the release of a mixed bag of important economic numbers out of the United States.
Perhaps the most important of these was the inflation snapshot in the Personal Consumption Expenditures series. This is known to be among the Federal Reserve’s favored pricing measures, so its presumed impact on monetary policy tends to make it a regular showstopper for markets.
This time the numbers came in exactly as expected, with the headline price index up 2.4% in January, from December’s 2.6%, and the ‘core’ reading up by 2.8%, from 2.9%. This deceleration will keep rate cut hopes alive, even if they’re not likely to come especially soon.
