Gold and silver prices are higher following a tamer than expected U.S. inflation report, which led to a drop in the U.S. dollar index and U.S. Treasury yields. Short covering and bargain hunting were observed in the futures and cash markets . December gold is up $17.40 at $1,967.50, while December silver is up $0.837 at $23.20. The consumer price index for October came in at up 3.2% year-on-year, slightly below the forecast of 3.3%. The core CPI rate was up 4.
0% in October, compared to the consensus forecast of 4.1%. This data supports the U.S. monetary policy doves' stance on interest rates. U.S. Treasury yields and the U.S. dollar index declined on the CPI data
Source: News Formal (newsformal.com)
Gold Silver Prices Inflation U.S. Dollar U.S. Treasury Futures Markets Cash Markets Consumer Price Index Interest Rates Federal Reserve Monetary Policy
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