The September 11th Golden Data News, as US inflation data prompted investors to drop their expectations for a significant rate cut by the Federal Reserve next week, the dollar and US Treasury yields strengthened, and the gold price fell. The US CPI in August only rose slightly, but the core inflation showed some stickiness, which may prevent the Fed from cutting rates by 50 basis points next week. Bob Haberkorn, senior market strategist at RJO Futures, said, “Inflation still exists. Consumers can still feel it. If they only cut rates in half (25 basis points), it means they are giving up. Cutting rates by 25 basis points is almost what they have to do now.” Tai Wong, an independent metal trader in New York, said, “The rise in core CPI more or less consolidates the 25 basis point rate cut next week… It may take some time for the gold price to reach a new historical high again.” The current market focus will shift to US PPI data and initial jobless claims announced on Thursday.
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