Today's world gold price listed on Kitco is 1,909.5 USD/ounce. In today's trading, various "struggles" will keep prices from moving on news that the consumer price index in a higher-than-expected version last month.
Specifically, US CPI in August increased by 3.7% over the same period last year and core CPI increased by 4.3% in the same period. CPI is forecast to increase 3.6% year-on-year, hence the 3.2% increase in the July report.
Introducing the first support of sustained high inflation may cause the US Federal Reserve (Fed) to prolong the process of tightening monetary policy supporting the strength of the USD.
According to market signals, it is confirmed that the Fed will keep interest rates unchanged at the September meeting at 93%. However, the probability that the Fed will raise interest rates at its November meeting has reached nearly 50%. Investments are waiting for US data to forecast the Fed's monetary policy.
A positive sign for the gold market is the recent preliminary report from the World Gold Council showing that central bank gold demand continues to dominate the precious metals market. According to many analysts, this is one of the most valuable factors supported in a complex environment of rising bond yields and the persistence of the USD.
Specifically, US CPI in August increased by 3.7% over the same period last year and core CPI increased by 4.3% in the same period. CPI is forecast to increase 3.6% year-on-year, hence the 3.2% increase in the July report.
Introducing the first support of sustained high inflation may cause the US Federal Reserve (Fed) to prolong the process of tightening monetary policy supporting the strength of the USD.
According to market signals, it is confirmed that the Fed will keep interest rates unchanged at the September meeting at 93%. However, the probability that the Fed will raise interest rates at its November meeting has reached nearly 50%. Investments are waiting for US data to forecast the Fed's monetary policy.
A positive sign for the gold market is the recent preliminary report from the World Gold Council showing that central bank gold demand continues to dominate the precious metals market. According to many analysts, this is one of the most valuable factors supported in a complex environment of rising bond yields and the persistence of the USD.