gold fell Investors Estimate US Inflation Data By Investing.com

© Reuters

by Gina Lee

Investing.com – Gold Prices Fall On a Thursday morning in Asia But it is still close to the one-week high in the previous session. and bonds weaken After the US inflation data underscored the need for rapid interest rate hikes

It was down 0.07% to $1,826.05 by 11:18 PM ET (4:18 GMT). moved up on Thursday

The yield on US 10-year Treasury bonds fell from a two-year high after rising earlier this week.

Wednesday’s data showed the US core consumer price index (CPI) rose 0.6 percent year-on-year and 5.5 percent in December. The CPI rose 7 percent, the fastest since 1982, while it rose 0.5 percent. %

The United States is due at the end of the day.

Higher-than-expected inflation raises expectations that the Federal Reserve will raise interest rates at its March 2022 meeting by three more annually.

To support these expectations, St. Louis Fed Chairman James B. Bullard told the Wall Street Journal that four rate hikes would be reasonable in 2022 amid high inflation. The Cleveland Fed and Atlanta Fed President Rafael Bostic will raise interest rates immediately in March 2022.

Richmond Fed President Thomas Barkin, Philadelphia Fed President Patrick Harker and Charles Evans, president of the Chicago Fed. was among the Fed officials speaking later today, and New York Fed President John Williams will speak on this friday

Lelle Bernard’s appointment as Fed Vice-President will also take place later in the day.

in Asia Pacific It will deliver its policy decision on Friday.

meanwhile Zimbabwe’s gold production is up 55.5 percent in 2021, according to the Zimbabwe central bank on Wednesday.

On the other precious metals, silver and platinum were up 0.1%, while palladium was down 0.2%.

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