GOLD and FOMC
Hello human. Gold price remains upbeat ahead of FOMC minutes ❤️
For US producer inflation, investors expect monthly headline PPI to expand at a slower pace of 0.4% against 0.7% recorded in August. The core PPI is seen growing at a steady pace of 0.2% in the same period.
On an annualized basis, headline PPI is foreseen steady at 1.6%. The Core PPI accelerated marginally to 2.3% against the former reading of 2.2%.
Interest rates do not increase => GOLD prices increase
For US producer inflation, investors expect monthly headline PPI to expand at a slower pace of 0.4% against 0.7% recorded in August. The core PPI is seen growing at a steady pace of 0.2% in the same period.
On an annualized basis, headline PPI is foreseen steady at 1.6%. The Core PPI accelerated marginally to 2.3% against the former reading of 2.2%.
Interest rates do not increase => GOLD prices increase
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🟢 Though that was a bit lower than the August reading, it was above Wall Street estimates and took the 12-month PPI rate to 2.2%, its highest since April and above the Fed’s coveted 2% annual inflation target.
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