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Gold Prices Soar as Fed Rate Hike Bets Eased by Cooler CPI Report

Guavy AI Editorial Team
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Gold
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Gold prices have broken out of their recent range and are holding above $4,350 after a reassuring CPI report on Wednesday showed a tamer picture of consumer price pressures for a second month in a row.

The Federal Reserve's view will be more nuanced and cautious, with rate cuts still on the horizon according to Scott Anderson, Chief U.S. Economist at BMO.

Anderson believes that while the CPI report should ease the Fed's fears about an energy-driven inflation spiral, the central bank will want to remain in wait-and-see mode, particularly since core services inflation is not yet moderating.

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