Gold jumped after tepid US core inflation data

Gold jumped as tepid US inflation pressures weighed on US dollar. The metal currently trades at $4799 per ounce, down 0.38% on the day. The Consumer Price Index (CPI) jumped 0.9% in March, following a 0.3% increase in February, the US Bureau of Labor Statistics announced on Friday. Over the last 12 months, headline inflation rose 3.3%, up from 2.4% in February. The report showed that despite the sharp rise in headline inflation, core prices stayed steady. Core CPI rose 0.2% last month. For the year, core inflation rose 2.6%, up from 2.5% reported in February. Given the massive spurt in oil prices, these readings are lukewarm. US dollar index is currently down 0.12% at 98.47.

Powered by Commodity Insights