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Gold extends winning streak ahead of FOMC minutes

Silver Price Forecast: XAG/USD stabilizes above $22 on subdued USD Index, US Retail Sales eyed

Silver price (XAG/USD) manages to shift its auction above the crucial resistance of $22 in the early European session on Thursday as investors digest that rate cuts by the won’t be announced Federal Reserve (Fed) atleast before June.

Gold remains below $2,000 as Fed rate-cut hopes wane, US Retail Sales in focus

Fed officials say December CPI did not budge view of inflation

U.S. Federal Reserve officials took little fresh signal from consumer price data published on Thursday as they gauge whether inflation is headed firmly enough back to the central bank's 2% target to allow them to reduce interest rates in coming months. Overall consumer price inflation on a 12-month basis rose to 3.4% in December from 3.1% the month before. It was an ambiguous outcome at a time when Fed officials are looking for some final but convincing bits of evidence that the pandemic-era spike in inflation has dissipated to the degree they can begin easing monetary policy and begin reducing the benchmark interest rate.

Federal Reserve: Fed officials say December CPI did not budge view of inflation

Overall consumer price inflation on a 12-month basis rose to 3.4% in December from 3.1% the month before. But excluding volatile food and energy costs the pace of price increases fell to 3.9% from 4%, showing ongoing moderation in underlying price pressures.

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