Gold prices neared a five-month high touched in the previous session, after strong U.S. consumer price data prompted a rush into the precious metal seen as a hedge against inflation.
Spot gold was up 0.6% at $1,861.39 per ounce. U.S. gold futures for December delivery settled 0.8% higher at $1,863.90 per ounce.
“The market is spooked with yesterday’s CPI data coming in as high as it was. Traders are looking at gold as being a safety asset, as a hedge against this inflation risk,” said Bob Haberkorn, senior market strategist at RJO Futures.
Gold nears 5-month peak as inflation worries boost appeal
- by: Reuters Staff
- November 12, 2021
- Source:
DYNAMIC WEALTH RESEARCH
- 10/27/2022
Gold bar with glass jar full of money by Marco Verch Professional Photographer is licensed under CC BY 2.0
Gold bar with glass jar full of money by Marco Verch Professional Photographer is licensed under CC BY 2.0
