Gold price fell slightly under stable inflation pressure
The slight decrease in gold prices is a response to stable inflationary pressures announced on Thursday. Specifically, according to the US Department of Commerce, the core personal consumption expenditures (PCE) price index increased by 0.2%. in the previous month, compared to a 0.2% increase in June. Meanwhile, inflation over the past 12 months increased by 4.2%, up slightly from June's 4.1% increase. in line with economists' expectations.
However, the decrease in precious metals was not significant, gold prices still maintained almost intact the strong increase over the past week. A series of less optimistic new economic data from the US increases expectations that the US Federal Reserve (Fed) will pause its series of interest rate increases this year, or at least this September. The market expects that this agency will only raise interest rates one more time (50/50), possibly in November, before moving to a period of loosening monetary policy.
However, the decrease in precious metals was not significant, gold prices still maintained almost intact the strong increase over the past week. A series of less optimistic new economic data from the US increases expectations that the US Federal Reserve (Fed) will pause its series of interest rate increases this year, or at least this September. The market expects that this agency will only raise interest rates one more time (50/50), possibly in November, before moving to a period of loosening monetary policy.
הערה:
The dollar index declined and government bond yields varied after the emergence of US unemployment data.
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