Gold is calm on Wednesday, as the spot price stands at $1245.94 per ounce in the European session. In the US, today’s highlights are Core CPI and CPI. The markets are keeping expectations low for the September readings.
Despite the efforts of the ECB, inflation levels in the Eurozone remain anemic, as German PPI came in at a flat 0.0%, shy of the estimate of 0.1%. The indicator has not produced a gain since December, as Germany continues to struggle with a lack of inflation. Eurozone Current Account, which is closely linked to currency demand, posted a surplus of EUR 18.9 billion, little changed from the previous release of EUR 18.7 billion. This reading disappointed the markets, as the estimate stood at EUR 21.3 billion.
XAU/USD 1245.94 H: 1249.37 L: 1244.94
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