Gold prices increased sharply
Hello dear brothers and sisters, let's dive into what's new with gold prices today!
Yesterday afternoon, gold prices surged impressively, breaking through the significant resistance level at $2035 and nearing $2050 before stabilizing around $2045 for the first half of today.
The core Personal Consumption Expenditures (PCE) in the US dipped from 2.9% to 2.8% year-over-year. The overall annual inflation also saw a notable decrease from 2.6% to 2.4%, aligning with forecasts. This data confirms the ongoing deflation process, leading to a drop in US Treasury bond yields. Consequently, financial investors are reallocating capital from bonds to precious metals. Today, the global gold market is poised for further growth.
Yesterday afternoon, gold prices surged impressively, breaking through the significant resistance level at $2035 and nearing $2050 before stabilizing around $2045 for the first half of today.
The core Personal Consumption Expenditures (PCE) in the US dipped from 2.9% to 2.8% year-over-year. The overall annual inflation also saw a notable decrease from 2.6% to 2.4%, aligning with forecasts. This data confirms the ongoing deflation process, leading to a drop in US Treasury bond yields. Consequently, financial investors are reallocating capital from bonds to precious metals. Today, the global gold market is poised for further growth.
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