TODAY'S MARKET INTELLIGENCE
Gold Gains Narrow: Mixed US PPI Data Fails to Ease Fed Tightening Concerns
English summary
Spot gold gains narrowed on Friday with a weekly drop of over 4%. Although the month-over-month rise in October US PPI was below expectations, the year-over-year figure ticked up. Combined with hawkish comments from Fed officials and a stronger dollar, markets repriced rate hike paths, weighing on gold prices. Technically, gold broke below key moving averages, indicating a continued bearish trend.
The English text is machine translated and may require verification against the Chinese version.
Browse today's intelligence