Gold managed to eke out a gain of a few dollars after the US data on Friday:
As expected inflation, and in that post you'll also find consumer spending, unchanged on the month. The two together were taken to indicate a lesser chance of the Fed bringing forward its tapering timeline (not that we know what it is yet).
Stan Chart:
- Gold has benefited from the lower than-expected inflation print as concerns at the margin have eased over a sooner-than-expected timetable for tapering
Analysts at the bank highlight $1,770 / ounce level a support in the near term
