TSX:GMTN - Post Discussion
Post by
GoldenPolarBear on Apr 11, 2024 4:56pm
Gold Price hits another all-time! ⭐️ Gold Mountain Mining is
We all want to see these Gold Mountain Mining shares rise further and with a little hard work and perseverance atthe Elk Project these shares should POP!
"... Gold climbed after the latest US inflation reading offered some calm to markets a day after a hot price reading curbed bets on Federal Reserve rate cuts.
The March producer price index for final demand rose 2.1% from a year earlier, Labor Department data showed Thursday. That’s the most in 11 months, but below the 2.2% analyst estimate. The PPI print along with a hot consumer inflation report Wednesday underpinned the bumpy path the Federal Reserve faces in achieving its 2% target.
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"...Still, the details in the PPI report offered some calm for investors worried about a re-acceleration of inflation. Several categories in the PPI report that are used to inform the Fed’s preferred inflation measure — the personal consumption expenditures price gauge — such as health care and portfolio management, came in softer.
“The PPI is enough to provide some relief to the hot CPI print yesterday,” said Nicky Shiels, head of metals strategy at Geneva-based MKS PAMP SA. “Overall, US bonds are trading as though Fed rate hikes are coming while gold is trading as though the Fed remains in rate cutting mode, so any dovish print going forward is fuel to accelerate the established bull trend.”..."
https://www.mining.com/web/gold-rises-as-traders-weigh-fed-rate-path-after-us-ppi-report/
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