COMEX gold price plus $11.6 after dollar weakens and bond yields decrease. Keep an eye on US inflation numbers End of this week
News reports from abroad Revealed that yesterday (19 Nov. 2023) the COMEX (Commodity Exchange) gold contract will be delivered in February. Rose $11.60 or 0.57% to close at $2,052.10/ounce. The gold market was supported by the weakening dollar index. Meanwhile, the yield on 10-year US government bonds decreased.
Investors are keeping an eye on the US Personal Consumption Expenditures (PCE) Price Index, which will be released on Friday. The PCE Index is the Fed’s main measure of inflation. Because it can detect changes in consumer behavior and covers the prices of goods and services more broadly than the Consumer Price Index (CPI).
Analysts expect the Headline PCE Index, which includes the food and energy categories, to increase 2.8% in November year-on-year from 3.0% in October. The Core PCE Index (Core PCE) which does not include food and energy categories. It is expected to increase 3.4% in November year-on-year from 3.5% in October.
2023-12-20 01:45:00
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