(Kitco News) - The gold market remains in neutral territory around $1,930 an ounce as U.S. inflation pressures continue to ease in line with expectations.
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For the year core inflation rose 4.4%, in line with economist expectations. Core inflation has dropped compared to November’s rise of 4.7%. Core PCE is the Federal Reserve’s preferred inflation gauge. While inflation remains persistently high, there are signs that the economy continues to slow. The report noted that personal spending last month dropped 0.2%, missing expectations. According to consensus estiamtes, economists were looking for a 0.1% drop.
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