Gold price is making its way to daily highs as U.S. annual core PCE disappoints in November

New York (Dec 23)  Gold was trading back in the green after the U.S. annual core PCE price index came in short of expectations in November, advancing 1.4% versus 1.5%.

On a monthly basis, the core PCE price index was up 0.0% in November versus the expected 0.1%, the U.S. Department of Commerce said on Wednesday.

The core inflation strips out volatile food and energy prices and is the U.S. central bank’s preferred inflation measure.

Gold edged up into positive territory, rising towards its daily highs. February Comex gold futures were last trading at $1,872.0, up 0.09% on the day.

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