Gold Crashes 3.25% to $4,120 on June 10 as May CPI Confirms 4.2% Inflation

XAU0.19%
XAG-0.45%
According to the Bureau of Labor Statistics, gold fell 3.25% to $4,120 on June 10 after May CPI confirmed 4.2% year-over-year inflation, up from 3.8% in April. Silver declined 0.65% to $64.79, extending a three-day selloff from levels above $67. The stronger-than-expected May nonfarm payrolls report of 172,000 jobs, roughly double the 85,000 consensus estimate, pushed CME FedWatch odds for a December rate hike to 72%, lifting the 10-year Treasury yield to the 4.53–4.56% range and firming the U.S. Dollar Index near 99.9. Higher yields and dollar strength increased the opportunity cost of holding non-yielding metals.
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DhiaaMahmoodvip
· 06-10 21:55
good
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