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Gold & Silver Decline, Hurt by Positive US Inflation Report

November 30, 2017 at 23:15 by Vladimir Vyun

Gold and silver fell on Thursday, while platinum and palladium were vulnerable as well. Market analysts attributed the drop to the positive inflation report that came out in the United States during the trading session. The core PCE price index was up 1.4% in October from the previous year, demonstrating the same rate of growth as in September. Considering that it is the favorite indicator of the Federal Reserve to assess the health of the economy, the positive reading led to speculations that it may encourage the Fed to become bolder with monetary tightening.

February futures for delivery of gold declined 0.74% to $1,276.7 per troy ounce as of 23:09 GMT on COMEX today. March contract for Brent crude fell 0.53% to $16.47 per troy. Spot price for platinum was unchanged at $942.95 per ounce, while palladium ticked up by 0.08% to $1,011.26 per ounce.

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