Gold price trades below $1,800 as key inflation indicator holds at 3.6% in September

New York (Oct 29)  Gold dropped after the U.S. annual core PCE price index came in at 3.6% in September versus the consensus forecast of 3.7%. The index has been at 3.6% since June.

On a monthly basis, the core PCE price index was up 0.2% as expected in September, according to the data published by the U.S. Department of Commerce on Friday.

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

Gold retreated below the $1,800 an ounce level following the data release. December Comex gold futures were last trading at $1,782.70 an ounce, down 1.10% on the day.

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