Gold and silver prices drop following US October inflation data
Following the release of the US October CPI data, which showed a 0.4 percent monthly increase, spot gold fell to the level of $4,050.
While the October inflation data released by the US Bureau of Labor Statistics caused activity in the markets, the Consumer Price Index recorded a 0.4 percent increase on a monthly basis.
According to data published by the US Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) increased by 0.4 percent month-on-month in October. Following the monthly inflation of 0.6 percent recorded in September, a slowdown was observed in the pace of price increases. In October, the shelter index rose by 0.3 percent, while the food index increased by 0.5 percent and the energy index by 0.7 percent. Core CPI, which excludes food and energy prices, rose by 0.3 percent month-on-month in October.
Following the critical data, spot gold fell to the level of $4,050 with a loss of more than 2 percent. Spot silver was trading at $51.85, while gram gold found buyers at 6,544 TL.
Sources
- sabah.com.tr · Link