"In fact, the consumer price index showed prices increased by 0.3% IN December, which puts the annual rate at 2.7%. Both were in line with expectations. Excluding food and energy, the core CPI rose 0.2% and 2.6% year-over-year, which was below expectations of 0.3% and 2.8%. This comes just days after the December jobs report showed a slight weakening. Per the latest payroll data, nonfarm payrolls grew 50,000 in December, which was less than the 73,000 expected by analysts."
"At record highs, gold could soon test $5,000. All as escalating tensions in Iran, mounting political pressure on the U.S. Federal Reserve, economic issues, and aggressive buying by global central banks boost demand for safe-haven assets. According to analysts at HSBC, rising geopolitical risks could push gold above $5,050 during the first half of the year. "We believe that gold will continue to benefit from strong central bank demand, ongoing concerns over a weaker US dollar, and sustained interest in gold-backed ETFs," HSBC said,"
Markets rose on a blend of economic signals as new inflation numbers tempered expectations for further Fed tightening and boosted hopes for interest rate cuts. The consumer price index rose 0.3% in December, putting the annual rate at 2.7%, while core CPI increased 0.2% month-over-month and 2.6% year-over-year, below expectations. December payrolls grew by 50,000, underperforming forecasts. At the same time, gold rallied toward record highs with multiple banks forecasting $5,000-plus prices, citing geopolitical tensions, central bank buying, a softer dollar, and investor demand for safe-haven assets.
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