Gold price: high voltage ahead of current US inflation figures
The accelerated inflation that can be observed around the world continues to keep the financial markets in suspense.
by Jörg Bernhard
In the early morning, however, China reported an unexpected decline in the inflation rate from 2.3 to 1.5 percent pa Now investors are waiting for the latest US inflation data, which will be announced at 2:30 p.m. According to a survey of analysts published by Trading Economics, consumer prices are expected to accelerate from 6.8 to 7.0 percent pa, with annual core inflation even rising from 4.9 to 5.4 percent. But that’s not all: Tomorrow, Thursday, the current producer prices for December will be due and before the weekend the market players will find out how import and export prices have developed. At 9.6 percent (producer prices), 11.7 percent (import prices) and 18.2 percent (export prices), particularly high increases are threatened.
On Wednesday morning, the gold price presented itself with held quotations. By around 7.15 a.m. (CET), the most actively traded gold future (February) rose by 1.80 to 1,820.30 dollars per troy ounce.
Crude oil: highest level in over two months
Yesterday’s speech by Fed chairman Jerome Powell interpreted investors to mean that the rise in interest rates could be slower than previously expected. This has weighed on the dollar and pushed the price of oil into higher regions. Although the American Petroleum Institute’s report released on Tuesday evening showed a lower-than-expected decline in inventories of 1.07 million barrels, the price of oil was relatively stable in early Wednesday trade. Fossil fuels could receive new impulses in the afternoon when the US Energy Information Administration (4.30 p.m.) publishes its weekly report on the development of storage reserves and production figures.
On Wednesday morning, the oil price was stable. By around 7.15 a.m. (CET), the next due WTI future had increased in price by 0.15 to 81.37 dollars, while its counterpart on Brent rose by 0.02 to 83.74 dollars.
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