Gold Price Today: Here’s Why Gold Is Crashing
Photo: CaptainAltcoin
Gold prices fell toward $4,100 per ounce after the latest U.S. inflation report came in hotter than expected. September CPI rose 0.6% month over month and 3.7% year over year, above the 3.6% consensus estimate. Core CPI also remained firm, rising 0.3% on the month and 2.6% over the past year. Gold reacted quickly. Spot prices dropped below $4,100 and traded near $4,086, with the move extending the metal’s recent decline. At first glance, higher inflation might sound bullish for gold because the metal is often used as an inflation hedge.
Source: CaptainAltcoin
