Gold price rallies following tamer U.S. inflation report gold silver inflation
- Gold and silver prices are higher and have hit their session highs in early U.S. trading Thursday, boosted by a U.S. consumer price index report that came in tamer than market expectations. December gold was last up $10.30 at $1,960.40 and September silver was up $0.059 at $22.79.
Asian and European stock markets were mixed to firmer in overnight trading. U.S. stock indexes are pointed to higher openings when the New York day session begins. Another WSJ headline today reads: Sputtering trade fuels concerns about a fractured global economy." This headline follows downbeat China import and export numbers reported earlier this week.
Look for China's central bank to continue to implement economic stimulus measures in the coming weeks, in an effort to prop up the listing Chinese economy. Importantly, if the stimulus does not put a charge into the Chinese economy in the coming few months, the other major economies of the world will start to feel the sting of the slower China growth. Such a scenario would be significantly bearish for raw commodity markets, as China is a voracious consumer of raw commodities.
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