Inflation Pickup Spurs Gold demand
Monday February 20, 2017 08:00
(Kitco News) - Although Fed Chair Janet Yellen expressed a more hawkish bias, there is still skepticism that the Fed will move in March. With the uncertainty of upcoming European elections and until the administration provides a clear fiscal plan, it is likely the Fed may continue to hold off in March. Against that possibility, U.S. consumer prices rose to a four-year high, which gave bulls enough comfort to engage, on the assumption that the Fed is getting further behind the inflation curve. A close above the $1,237 level should usher in a test of the $1,255 area.
By Peter Hug, Kitco Metals Global Trading Director; email@example.com
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