What took it so long!
from ***** just out...'This is a game-changer for gold': Shift in Fed's rate hike expectations take gold price towards $1,800
The new U.S. inflation data release has triggered a rollercoaster ride in gold, with the latest move taking the precious metal nearly $40 higher on the day.
September's inflation numbers showed price pressures accelerating to 5.4% annually, slightly more than the market was expecting.
"We are starting to see the market growing nervous about the U.S. consumer. After digesting this report, it shows that the market is now anticipating sooner rate hikes. At the same time, we see the yield curve flattening, and that is good news for gold," OANDA senior market analyst Edward Moya told ***** News. "Gold is entering a period where risks now outweigh the reopening trade, and we'll see more safe-haven flows into gold. This is a major reversal of trends and very positive for gold."
