Metals prices dip on lower-than-expected U.S. inflation data
Slight drops noticed in gold, silver after U.S. producer price index showed no increase in October
Gold and silver prices dipped following Friday’s release of U.S. inflation data, which showed no increase in the producer price index on a month-over-month basis.
PPI was up 1.8% from a year ago, and, following August’s increase of 0.2%, economists surveyed by Dow Jones were expecting a 0.1% rise in October.
Gold prices dipped about $10 an ounce to $2,640 and silver prices dropped about 20 cents to $31.25.
This chart shows the reaction of the gold market to the U.S. inflation data released Friday. (Source:TradingView)
Traders balanced the PPI data with Thursday’s release of the Labor Department’s consumer price index, which is more widely followed, that showed a 0.2% increase for the month, up 2.4% from a year ago. Precious metals rallied after the Thursday data release.
The Federal Reserve targets a 2% inflation rate, and Thursday’s consumer price index showed that while rampant inflation is a worry of the past, the Fed still must pay attention to the heightened and somewhat lingering effect inflation still has on the economy. Augusta Precious Metals $0 (10 Years) $50,000 "Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings Goldco Vary $25,000 Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee American Hartford Gold Vary $10,000 American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..Expand Details
Renowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.Expand Details
From precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ yearsExpand Details
With over $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and a historical perspective, ensuring informed decisions. Trusted by public figures and praised for exceptional customer service, the company offers competitive pricing on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee
Jerusalem Post Store
`; document.getElementById("linkPremium").innerHTML = cont; var divWithLink = document.getElementById("premium-link"); if (divWithLink !== null && divWithLink !== 'undefined') { divWithLink.style.border = "solid 1px #cb0f3e"; divWithLink.style.textAlign = "center"; divWithLink.style.marginBottom = "15px"; divWithLink.style.marginTop = "15px"; divWithLink.style.width = "100%"; divWithLink.style.backgroundColor = "#122952"; divWithLink.style.color = "#ffffff"; divWithLink.style.lineHeight = "1.5"; } } (function (v, i) { });