Gold price gains as U.S. consumer prices rise in December

New York (Jan 13)  Gold prices advanced following the December inflation data.

The U.S. Consumer Price Index rose 0.4% last month after advancing 0.2% in November, the U.S. Labor Department said on Wednesday. Consensus forecasts were not disappointed as they were calling for a rise of 0.4%.

Annualized inflation came in above expectations in December, rising 1.4% versus the projected 1.3%. This comes after November’s increase of 1.2%.

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