Gold price finds little direction following in line U.S. CPI data
(Kitco News) - Gold prices continue to struggle for direction as consumer inflation pressures rose in line with expectations, September.
Tuesday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.2% last month, after a 0.4% rise in August. The data in line with consensus forecasts.
For the year headline consumer inflation rose 1.4%, the report said that core inflation rose 1.7% for the year, unchanged from August’s annual rise.
Stripping out volatile food and energy prices, core inflation also increased 0.2% last month, following August’s rise of 0.4%. Economists were expecting to see a 0.2% rise. The report said that
The gold market is seeing little reaction to the latest inflation data. December gold futures last traded at $1,927.60 an ounce, roughly unchanged on the day.