US CPI data falls short of expectations and US dollar index plummets Gold rebounded to a new week high

US CPI data falls short of expectations and US dollar index plummets

Gold rebounded to a new week high

On Tuesday (November 14th), the latest data released by the US Bureau of Labor Statistics on Tuesday morning showed that as of October, consumer goods prices remained unchanged from the previous month, with a year-on-year increase of 3.2%. This is the result of the decline in oil prices dragging down overall inflation. At the same time, “core” inflation, which excludes volatile factors such as food and energy, rose 4.0% year-on-year, slightly lower than the previous month's increase. According to Bloomberg data, economists had previously expected prices to rise 0.1% month on month and 3.3% year-on-year.

The spot gold rose sharply, boosted by the sharp decline of the US dollar and the rise of treasury bond. The release of US inflation data triggered a strong reaction in the market, boosting the stock market and pushing the US dollar to its lowest level in months. The price of precious metals continued to rise, with spot gold reaching a high of 1970.91 US dollars per ounce, pulling up 27 US dollars from its daily low; Spot silver rose by 3% within the day.