Gold market sees some selling pressure as U.S. CPI rises 0.4% in February up 3.2% for the year

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According to the report, higher shelter costs and rising gasoline prices were the two biggest factors driving inflation last month. “We still believe there is plenty of disinflationary pressure to feed through, particularly with unit labour cost growth back down to its pre-pandemic rate. On balance, we expect the Fed to begin cutting interest rates in June, by which time there will be more evidence of core PCE inflation moving close to the 2% target. But that will now require a shift in tone in the March CPI data,” said Paul Ashworth, Chief North America Economist at Capital Economics.

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- The gold market is seeing some solid selling pressure Tuesday following hotter-than-expected inflation numbers; however, this correction could be a short-lived buying opportunity for investors who missed the initial rally, according to one market strategist. - The Séguéla mine in Côte d’Ivoire and the recently acquired Diamba Sud gold project in Senegal are “the two high-value opportunities,” says Jorge Ganoza, president & CEO of Fortuna Silver Mines .

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