Home » U.S. Inflation Growth Slows, Gold Stabilizes at High Level Today | Gold

U.S. Inflation Growth Slows, Gold Stabilizes at High Level Today | Gold

by admin


Original Title: US Inflation Growth Slows Down, Today’s Gold Stabilizes High

International spot gold on Friday (August 13) is currently stabilizing and rising slightly.Gold priceThe grid is currently stable in the range of 1750-1760 US dollars per ounce. As of now, gold temporarily stands at 1756 US dollars per ounce.

U.S. inflation growth has slowed, but is still at a high level

The US Department of Labor announced on Thursday that the producer price index (PPI) increased more than expected in July, indicating that inflation may remain high because the supply chain is still unable to meet the strong demand triggered by the economic recovery. In the 12 months ending in July, PPI jumped 7.8%, setting a new high since the data was launched in 2010. The final demand producer price index rose 1.0% last month after rising 1.0% in June. Three-quarters of the growth was driven by a record monthly increase in demand for final services, while the growth in demand for goods was only half of June.

Data released on Wednesday showed that the U.S. Consumer Price Index (CPI) growth slowed in July, although the annual growth rate was still at a 13-year high, and there were preliminary signs that as the economy adapted to the supply chain interruption caused by the epidemic, inflation had already been seen. top. Mair Rasheed, an economist at the Oxford Economics, said: “We expect the July report to mark the peak of PPI because supply pressure will gradually ease in the next few months and demand will slow down after the rapid growth in the first half of the year. However, the pandemic The continued disruption caused will continue to hinder supply before the end of the year.”

See also  Jeremy Fragrance: 900,000 euros a year with this company

The rapid economic recovery has led to a mismatch between supply and demand. Manufacturers have to work hard to cope with low inventories, rising commodity prices, the global shipping container crisis, and rising labor costs due to a lack of workers willing to work. Insufficient inventory caused by supply chain issues makes it easier for manufacturers to pass costs on to consumers.

The National Association of Realtors issued a report on Thursday that the median price of second-hand single-family houses rose 23% year-on-year to an all-time high of US$357,900. Of the 183 metropolitan areas, 94% reported double-digit house price growth, which is higher than the 89% in the first quarter.

Sluggish mortgage interest rates have triggered a boom in the U.S. real estate market for more than a year, and housing shortages have pushed up housing prices. It is difficult for buyers to find affordable homes, and second-hand home sales fell for the fourth consecutive month in May.

At the opening in the morning, the price of gold fluctuated upwards, the hourly cycle continued positive, and the short-term upward trend was obvious. Therefore, gold in the Asian market should not be rushed to go short. First, take advantage of the trend to see the rebound. Near 1763.

In summary, gold has fallen more strongly. Although it has been a rebound trend recently, it is not optimistic about a reversal. Therefore, the daily operation is supported by 1750 and the trend is shorter and more, and the suppression of 1760-1763 is concerned.

According to the gold market center of Jintou.com, at 16:14 Beijing time, today’s gold spot price temporarily reported 1,756.43 US dollars per ounce.

See also  SPÖ-Krainer zu Brunner in the Ö1-Journal: Record inflation for 1 year and the government is just watching

Massive information, accurate interpretation, all in Sina Finance APP

.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy