Gold price sharply higher following as-expected U.S. CPI print gold silver inflation
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
This morning’s highly anticipated U.S. consumer price index report for December came in at up 6.5% year-on-year, which was right in line with market expectations. A 7.1% annual rise was reported in the November report. Other internal numbers in today’s CPI report were also in line with market expectations. This report falls slightly into the camp of the U.S. monetary policy doves, as the report suggests U.S. inflation has peaked.
Other U.S. economic data due for release Thursday includes the weekly jobless claims report, real earnings and the monthly Treasury budget statement.
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