RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Commodities

Gold Prices Decline Amid Rise in Inflation Rate in the U.S.A

Rate Captain by Rate Captain
January 13, 2022
in Commodities, Economics, Markets
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Gold declined in the early hours of Thursday morning but the yellow metals price still nears its one-week high. With the U.S inflation data pointing out the need for an increase in interest rate, U.S dollar declined as well as treasury yield figures.

Gold prices decreased marginally to $1,826.05 representing a 0.07% decrease as at 4:18 AM GMT. Consequently, the dollar increased slightly as it has an inverse relationship with gold.

Data released by the U.S bureau of labor statistics shows the U.S. core consumer price index (CPI) grew 0.6% month-on-month and 5.5% year-on-year in December. The CPI grew 0.5% month-on-month 7% year-on-year.

The heightened inflation figures has increased the tendency of the U.S. Federal Reserve hiking interest rates at the March Meeting in 2021.

More evidence of a likely interest rate spike is the Fed St. Louis President James Bullard, telling the Wall Street Journal that four rate increases may be justified in 2022 amid high inflation. Fed Bank of Cleveland President Loretta Mester and Atlanta Fed leader Raphael Bostic separately interest rate hikes as soon as March 2022.

Richmond Fed President Thomas Barkin, Philadelphia Fed President Patrick Harker, and Chicago Fed President Charles Evans are among the Fed officials speaking later in the day. New York Fed President John Williams will speak on Friday.

Meanwhile, according to data from the Reserve Bank of Zimbabwe, Zimbabwean gold production rose by 55.5% in 2021..

Previous Post

Bureau De Change Operators of Nigeria (ABCON) Demands CBN Action on Forex Inflow

Next Post

Sales of NFTs Hit $25 Billion in 2021

Related News

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

by Rate Captain
May 18, 2022
0

Chicago Federal Reserve Bank President Charles Evans said he supports moving to a shallower rate-hike path by July or September...

CBN say Nigeria would reap the benefits of a rising oil price

CBN say Nigeria would reap the benefits of a rising oil price

by Rate Captain
May 18, 2022
0

A rising oil price is considered to be beneficial to a major oil exporter like Nigeria. However, the Central Bank...

Next Post

Sales of NFTs Hit $25 Billion in 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

MOMAN Debunks Rumor of Aviation Fuel Selling at N700 per Litre

Oil Marketers, Airlines reach loggerheads over local Aviation Price

May 20, 2022

Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

May 20, 2022

Popular Story

  • Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.