Silver price (XAG/USD) witnesses some selling pressure as the United States Bureau of Economic Analysis (BEA) has reported that the core Personal Cons
Silver price remains depressed below $23.00 despite sticky US core PCE data. Higher US bond yields keep the Silver price on the backfoot. Major growth to Q3 GDP was contributed by robust consumer spending. umption Expenditure price index for September remained in line with expectations. Federal Reserve’s preferred inflation gauge rose at a higher pace of 0.3% as expected against a nominal increase of 0.1%, recorded in August. The annual core PCE inflation data decelerated to 3.
Cleveland Fed Bank President Loretta Mester said last week that higher bond yields are equivalent to one interest rate hike of 25 basis points . The blockbuster Q3 Gross Domestic Product report, released on Thursday, indicated that investments by businesses were dipped for the first time in two years due to higher borrowing costs. However, major growth was contributed by robust consumer spending and higher residential investment.
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