Gold investors were reminded again that it's difficult to keep the dollar down for too long.
Despite the clear stance on interest rates by many Fed officials and Wall Street trying its best to ignore the inflationary trend, the dollar rallied on Thursday, making up for all the lost ground. in the previous three sessions and more.
As the greenback rebounded, gold's four-day rally also came to a halt as the yellow metal hit a new two-week high of just $1,900 an ounce before retreating.
Despite the clear stance on interest rates by many Fed officials and Wall Street trying its best to ignore the inflationary trend, the dollar rallied on Thursday, making up for all the lost ground. in the previous three sessions and more.
As the greenback rebounded, gold's four-day rally also came to a halt as the yellow metal hit a new two-week high of just $1,900 an ounce before retreating.
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China’s Consumer Price Index (CPI) stagnated at 0% YoY in September after accelerating by 0.1% in August. The market expected an increase of 0.2%. China’s Producer Price Index (PPI) dropped 2.5% YoY in September, compared with a 3.0% decline registered previously. The market forecast was for a 2.4% decline.
