Gold Supported Around One Week Low

Published on Dec 13, 2021 10:45

COMEX Gold futures moved up on inflationary concerns in last session. The metal bounced from a one week low and ended above $1780 per ounce as Consumer prices in the US increased at the fastest annual rate in nearly 40 years in the month of November. According to a report released by the Labor Department on Friday, the annual rate of growth in consumer prices accelerated to 6.8% in November from 6.2% in October, reflecting the biggest jump since June of 1982. Core consumer prices, which exclude food and energy prices, were up by 4.9% compared to the same month a year ago, showing the biggest annual increase since June of 1991. Gold has been supported in volatile trades over last few days after a break under $1800 per ounce mark.