Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated ****** ets—and may continue to in the future.
So, what kind of week has it been?
Gold held on to most of its recent rally this week, trading largely between $4,325 and $4,425/oz as buyers continued to defend the rebound.
July CPI data helped ease immediate concerns about another Federal Reserve rate hike, supporting gold as headline inflation held at 3.4% year over year and core CPI eased to 2.5%.
Thursday's PPI report delivered a mixed inflation signal: headline producer prices were flat, while the measure excluding food, energy, and trade services rose 0.4% month over month. Gold gave back part of its midweek advance even as September rate-hike odds continued to fade.
#market #trading #held #continued
So, what kind of week has it been?
Gold held on to most of its recent rally this week, trading largely between $4,325 and $4,425/oz as buyers continued to defend the rebound.
July CPI data helped ease immediate concerns about another Federal Reserve rate hike, supporting gold as headline inflation held at 3.4% year over year and core CPI eased to 2.5%.
Thursday's PPI report delivered a mixed inflation signal: headline producer prices were flat, while the measure excluding food, energy, and trade services rose 0.4% month over month. Gold gave back part of its midweek advance even as September rate-hike odds continued to fade.
#market #trading #held #continued
3 months ago
