Israel Expands Ground Activities Gold prices surged above $2,000, but the rise of the US dollar was hindered

Israel Expands Ground Activities

Gold prices surged above $2,000, but the rise of the US dollar was hindered

On Friday (October 27th), despite some lingering impacts, political uncertainty and debt concerns have supported recent safe haven demand. Gold bulls have regained the $2,000/oz mark that they have not reached in the past two months.

According to estimates released today by the US Bureau of Economic Analysis, personal income increased by $77.8 billion in September (a monthly rate increase of 0.3%), following a 0.4% increase in August and exceeding market expectations of a 0.5% growth. Service expenditure increased significantly by $96.2 billion, or 0.8%; Commodity expenditures also increased by $42.5 billion, or 0.7%. In the service industry, expenditure on other services has increased, especially international travel; Housing and public utilities, mainly housing costs; Medical care, mainly in hospitals and sanatoriums; And transportation, mainly by air.

In September 2023, the core PCE price index rose 0.3% month on month, marking the largest increase in four months, in line with market expectations and accelerating from the 0.1% increase in the previous month. The Federal Reserve's preferred inflation indicator, the year-on-year rate, has slightly dropped to 3.7%, the lowest level since May 2021, but still significantly higher than the central bank's target of 2%.