The U.S. Open for Asia on Thursday morning in April. Consumer prices were higher, raising concerns about higher inflation.
Gold futures down by 0.34% to $1,816.65
The U.S. The 10-year Treasury yield rose to its highest level in more than a month, with strong demand at an auction of 10-year notes.
The U.S. for April The main consumer price index (CPI) rose 0.9% per month, the highest in almost 12 years. This surpassed the 0.3% growth forecast made by investment.com and the 0.3% growth in March. The rise in consumer prices was driven by growing demand amid a reopening economy against a supply deficit.
Signs of high inflation Investors are concerned that the Federal Reserve may push up interest rates.
However, Richard Clarida, the central bank’s vice president, said on Wednesday that the rise in inflation would be temporary and that the central bank would not consider a slowdown in its stimulus action until the economy recovers.
“The economy is far from our goals and it may take some time to make significant progress,” Clarida added.
Investors are now waiting for the maker price index for April.
President Joe Biden said after meeting with Republican leaders Wednesday that he was ready to compromise on the trillions of dollars he proposed in infrastructure spending. However, he added that he would move forward with the plan without the support of Republicans if necessary.
In the UK, Rix House price reserves for April grew by 75%, hitting a four-decade high as buyers sought to benefit from the extended tax breach.
Among other precious metals, palladium rose 1.7% to $ 2,903.68 an ounce, silver 0.5% and platinum 0.4%.