Gold extends gains over 1% as US PPI data solidifies rate cut hopes
Gold rose over 1% on Friday after a U.S. inflation data cemented prospects of a rate cut next month, restraining the dollar below recent highs, while safe-haven demand stemming from the geopolitical tensions in the Middle East also lifted the bullion.
What does PPI say about the Fed’s next rate cut?
The Producer Price Index (PPI) held steady month-over-month, coming in cooler than expected, though the inflation indicator saw more significant year-over-year increases than estimated. Wolfe Research chief economist Stephanie Roth joins Seana Smith and Brad Smith on Morning Brief to discuss the latest economic data and what signals about the Federal Reserve’s next move in the ongoing rate easing cycle.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to ...
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