Gold prices today drop near two-week low as strong dollar; Fed rate hike bets pressure market
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Gold prices today drop near two-week low as strong dollar; Fed rate hike bets pressure market
Gold prices continued to fall on Wednesday and stayed close to a two-week low. Spot gold was down 1.1% at $4,067.72 per ounce after touching an intraday low of $4,050.60. U.S. Gold Futures also fell. Futures dropped 1.6% to $4,083.60 per ounce. Gold is now trading just above the important $4,000 pe»»»
US producer prices rise at fastest pace since November 2022
(June 11): US producer prices rose in May at the fastest pace in more than three years as the fallout from the Iran war continued to fan inflation pressures. The producer price index (PPI) increased 6.5% from a year earlier, the most since November 2022, according to Bureau of Labor Statistic»»»
'Red hot' U.S. inflation rises at fastest pace in more than three years
Article contentU.S. inflation accelerated in May, in line with consensus as the consumer price index (CPI) rose 0.5 per cent from April and 4.2 per cent from a year earlier — the fastest pace since early 2023, according to data from the U.S. Bureau of Labor Statistics. Here’s what economists had to»»»
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