Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Flashback: Top five wildest moments from Elon Musk’s...
Less than half of DOGE-terminated contracts can be...
Jill Biden should have to answer for ‘cover...
DOGE staffing shakeup as Elon Musk hangs up...
State Dept says DOGE’s changes will be permanent...
President Trump teases ‘last day, but not really’...
Trump denounces court’s ‘political’ tariff decision, calls on...
I’m a physician and I’m worried that our...
Inside the late-night drama that led to Trump’s...
Alleged attempt to impersonate White House chief of...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Gold and Silver Prices Fall as​ CPI Meets Expectations

by admin August 15, 2024
August 15, 2024
Gold and Silver Prices Fall as​ CPI Meets Expectations

The US Bureau of Labor Statistics released its latest consumer price index (CPI) figures on Wednesday (August 14), revealing a 0.2 percent increase in July from the previous month.

While the gain was not unexpected, it marks a change from the 0.1 percent month-on-month decline seen in June. On a yearly basis, CPI increased by 2.9 percent in July, down from June’s 3 percent gain.

Driving the month-on-month increase was a 0.4 percent rise in shelter costs, which the agency says accounted for nearly 90 percent of the index’s increase. Food prices rose 0.2 percent, while energy was flat.

Even though the CPI isn’t the US Federal Reserve’s favored indicator when making decisions on its benchmark interest rate, it provides important data in the central bank’s fight to bring inflation down to its 2 percent target.

The CPI release came a day after the Bureau of Labor Statistics released producer price index (PPI) data for July. It shows a 0.1 percent increase on a monthly basis, down from the 0.2 percent indicated in June.

On a yearly basis PPI increased 2.2 percent, down from the 2.7 percent recorded the previous month.

The 0.1 percent boost beat expectations from economists, who had been predicting a 0.2 percent monthly rise.

PPI is another leading inflation indicator, and demonstrates baseline costs for wholesale goods and services from the perspective of manufacturers. It also provides critical data for the Federal Open Market Committee.

While CME Group’s (NASDAQ:CME) FedWatch tool shows analysts believe a cut to interest rates in September is all but certain, expectations have moved away from a 50 basis point cut to a smaller 25 point cut.

Precious metals responded negatively to this shift, with gold losing 1.1 percent to trade at US$2,439.45 per ounce by 12:30 p.m. EDT on Wednesday, and silver losing 2.48 percent to change hands at US$27.18 per ounce.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Brett Heath: Gold’s Setup is “Incredible,” US$3,000 in the Cards for 2024
next post
Law enforcement brace as anti-Israel groups vow to bring tens of thousands of protesters to DNC in Chicago

You may also like

Missouri Set to Recognize Gold and Silver as...

May 13, 2025

New Murchison Gold Limited

February 12, 2025

Australian Ethics Committee Approval to Expand PD-L1 Nanobody...

November 19, 2024

PROSPECT RIDGE RESOURCES ADJOURNS ANNUAL GENERAL MEETING

December 14, 2024

Joe Cavatoni: Gold Demand Hits Q3 Record, Western...

November 5, 2024

Altech – Entitlement Offer & Share Placement to...

August 7, 2024

Heritage Exercises First Option to Acquire a Majority...

January 20, 2025

Syntheia Rings the Opening Bell on the Canadian...

November 21, 2024

SAGA Metals Appoints Vernon Shein, Former Exploration Manager...

May 15, 2025

Uranium Stocks: 5 Biggest Companies in 2025

May 20, 2025

Recent Posts

  • Flashback: Top five wildest moments from Elon Musk’s DOGE tenure as it comes to an end
  • Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
  • Jill Biden should have to answer for ‘cover up’ of former president’s decline, White House says
  • DOGE staffing shakeup as Elon Musk hangs up his hat, White House confirms
  • State Dept says DOGE’s changes will be permanent amid Musk’s departure

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (751)
    • Investing (2,211)
    • Politics (2,729)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.