24 Articles
24 Articles
Gold and silver prices have suddenly fallen sharply, as the United States has shared inflation data for September. According to this data, US inflation increased in September.
Gold drops over 1% as hot US inflation data boosts Fed hike bets
US consumer prices increased in September, contributing to expectations of an interest rate hike by the Federal Reserve. Following this inflation data, gold prices fell over 1% for the third consecutive session. The US dollar index also climbed, making gold more expensive for foreign investors. Market predictions indicate a 44% chance of a rate hike in October and a 95% chance in December.
In the US, September inflation data indicated a renewed strengthening of price pressures. Sharp increases in energy, particularly gasoline prices, pushed headline inflation higher, while the rise in core inflation brought expectations regarding the Fed's interest rate policy back into focus.
Breaking news... The eagerly awaited US inflation figures have been released. Inflation in the US rose 0.6% on a monthly basis in September, while the annual rate reached 3.7%. US inflation exceeded expectations in September. Following the release of the data, gold and silver prices fell sharply, while the dollar index rose.
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