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NEW YORK SPOT METAL PRICES

January 18th, 2024

Metals and stocks drifted lower Wednesday as investors continued to digest mixed inflation data from last week. CPI showed prices unexpectedly jumped in December while PPI showed they fell more than expected. The effects of this data on future Fed policy remain unclear, but recent comments from Fed officials hint that a rate cut in March is becoming less likely. Gold is down about 2% since Friday’s settlement while stocks shed about 0.5% on Wednesday.