The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
As of 5:30 PM EDT, gold futures hit a new record high of $2,384.50 per ounce, with the most active June contract closing up $11.40 at $2,362.40. This marks the eighth consecutive day of significant gains for the precious metal, driven by a trifecta of fundamental forces.
All eyes are now on tomorrow's U.S. inflation report, with the release of the March Consumer Price Index data. According to a recent article in US News and World Report, analysts anticipate a mixed picture – the monthly CPI rate is forecast to moderate to 0.3% from 0.4% previously, but the annual figure could inch higher to 3.4% from February's 3.2%. The core measure excluding food and energy is expected to dip to 3.7% from 3.8%.
The inflation figures will be closely scrutinized by the Federal Open Market Committee ahead of their next meeting on May 1, where rates are expected to be left unchanged. However, as Forbes notes, "relatively benign inflation data could pave the way for a summer interest rate cut, according to the expectations of most FOMC officials and fixed-income markets."
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold SWOT: Gold’s consolidation after reaching record highs cloud be positive in the longer termThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Alamos Gold acquires Argonaut Gold and the Magino Mine in Algoma RegionCreating of one of Canada’s largest and lowest cost gold mines
Read more »
Alamos Gold acquires Argonaut Gold and the Magino Mine in Algoma RegionCreating of one of Canada’s largest and lowest cost gold mines
Read more »
African gold miners shouldn't be judged on geopolitical risk alone - Allied Gold CEO Peter MarroneThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Alamos Gold signs deal for Argonaut Gold and its Magino mine in OntarioAlamos Gold Inc. has signed a deal to acquire Argonaut Gold Inc.'s Magino mine in Canada, while the company's assets in the United States and Mexico will be spun out to its existing shareholders.
Read more »
B.C. mining firm calls forced labour allegations nonsenseCanada’s corporate-ethics watchdog cites Dynasty Gold Corp. in connection with Chinese gold mine
Read more »