From Barchart: 2024-11-14 05:49:39

Recent CPI data has caused gold and copper prices to drop, with gold hitting near two-month lows. The dollar’s strength against other currencies due to lower inflation has reduced demand for gold, making it less appealing to international buyers.

Factors impacting gold prices include the strengthening U.S. dollar and speculation of Federal Reserve rate hikes, diminishing gold’s appeal as a non-yielding asset. Copper prices have also declined, driven by slowing industrial demand and the dollar’s pressure on commodities.

Looking ahead, commodities may face continued downward pressure as the U.S. dollar remains strong. However, a potential rate pause or cut by the Federal Reserve could shift the dollar’s momentum, sparking renewed interest in metals. Investors can utilize resources like the Commodities API to stay informed and make informed decisions.



Read more at Barchart:: Gold Prices Drop as CPI Data Lifts Dollar; Copper …