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Gold futures settle higher on positive CPI data

13 Jan 2023 Evaluate

Gold futures settled higher on Thursday, were set for a fourth straight week of gain after highly anticipated consumer price inflation (CPI) data showed positive, raised expectations of slower interest rate hikes by the U.S Federal Reserve. Data exhibited that consumer prices down 0.1% in December after rising 0.1% in November, resulting in year-on-year inflation easing to 6.5% from 7.1%. Moreover, weaker dollar rates also buoyed the investment appeal of the bullion.

Gold futures for February surged by $19.9 or 1.1% to settle at $ 1898.8 ounce on the Comex division of the New York Mercantile. spot gold up by $0.1% or $1,898.57 per ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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