Gold price weaker in choppy action after slightly tamer U.S. inflation data kitconews gold silver economics metals mining finance investing
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The U.S. consumer price index report for July came in at unchanged from June and up 8.5%, year-on-year. The report was expected to be up 8.7%, year-on-year, after a rise of 9.1% in the June report. Gold prices initially rallied to a four-week high on the news, as the U.S. dollar index dropped sharply and U.S. Treasury yields declined. However, bond yields then ticked back up. Meantime, the U.S.
The key outside markets today see Nymex crude oil prices down a bit and trading around $90.00 a barrel. The U.S. dollar index sharply lower and hit a four-week low in early U.S. trading. The yield on the 10-year U.S. Treasury note is fetching 2.7%.
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