Gold futures continue to run counter to the U.S. dollar and closed lower yesterday (Dec. 9) as the dollar strengthened. The markets await the CPI data to be released today.
Gold futures fell $8.80 to close at $1,776.70 per ounce.
Today, the highly anticipated U.S. CPI data will be released by the U.S. Department of Labor. The CPI data is considered the main measure of inflation.
Earlier, the consumer price index rose 6.2% in October from a year earlier. This was the highest level since December 1990, up from 5.4% in September. MoM results in a 0.9% increase in October, compared with a 0.4% increase in September.
The latest core CPI data excluding food and energy rose 0.6% month-on-month, following a 0.2% increase in September. This was the highest level since November 1990.
Of importance for the gold market are the monetary policy meetings of the world’s three largest central banks: the Fed meets on December 14 and 15, while the ECB and BOE meet simultaneously on December 16.
The Spot Market is Open
Friday, December 10, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.00 | 1,778.10 1,779.10 | +2.50 0.14% | 1,775.60 1,780.90 |
| Silver 12.00 | 22.00 22.15 | +0.05 0.25% | 21.93 22.17 |
| Platinum 12.00 | 939.00 949.00 | +6.00 0.64% | 933.00 952.00 |
| Palladium 12.00 | 1,754.00 1,904.00 | -3.00 -0.17% | 1,738.00 1,912.00 |
| Rhodium 06.00 | 12,800.00 14,800.00 | 0.00 0.00% | 12,800.00 14,800.00 |