US October CPI beats forecasts, gold drops over $100 to near $4000
Briefing by News4U · First published
Sina Finance reports that US October CPI rose 0.4% month-on-month, above the 0.3% forecast, sending spot gold down more than $100 to near $4000 an ounce. The data showed core CPI also rose 0.3%, above the 0.2% forecast. Spot gold fell more than 3% to a low of 4013.53 dollars an ounce before stabilizing near 4030-4040 dollars. CME data showed a 98.6% probability of a December rate hike. The World Gold Council reported global central banks bought 321 tonnes of gold in the third quarter. [1]
Sources
- 美通胀超预期，黄金一夜跌逾百点濒临4000美元大关
Sina Finance · · Full text