Metals prices jumped Thursday as treasury yields pulled back on the latest inflation data. The core personal consumption expenditure price index rose 0.4% in January and 2.8% year-over-year, which was in line with expectations.
This was a welcomed change for investors after CPI showed a sudden jump in prices last month, leading to a decline in equity and metals markets. While a March rate cut is still extremely unlikely, this latest data helped boost the likelihood of Fed cuts starting in June.
FideliTrade Market Update: February 29, 2024.
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