Gold and silver prices are lower again in early U.S. trading Friday, on follow-through pressure from strong losses Thursday, in the wake of a U.S. producer price inflation report that came in hotter than expected. The price of gold is trading at $2659.46, down $21.06. The price of silver is trading at $30.40, down 57 cents.
Thursday’s hot PPI report likely won’t stop the Federal Reserve from cutting interest rates next week at its FOMC meeting, but it has called into question the Fed’s monetary policy trajectory early in 2025. The 3% annual rise in PPI in November is a full percentage point above where the Fed would like to see annual overall U.S. inflation.
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