The hotter-than-expected CPI reading weighed heavily on the crypto market in early trading on Wednesday as Bitcoin briefly dipped below $68,000.Gold price trying to hold support around $2,350 as U.S. CPI rises 0.4% in March, up 3.5% for the year
- The gold market is seeing some selling pressure, with prices testing initial support at $2350 an ounce as the U.S. economy sees hotter-than-expected inflation.The Consumer Price Index rose 0.4% last month after February’s 0.4% increase, the U.S. Bureau of Labor Statistics said on Wednesday. The latest inflation data was higher than expected as economists looked for a 0.3% increase.The report said that in the last 12 months, headline inflation rose 3.5%, also coming in above expectations.
- The gold market has seen one of the quietest bull rallies on record as prices rally from all-time highs to all-time highs, but investors should no longer ignore the precious metal, according to one famed economist and market analyst. - There has been a significant drop in silver inventories across major exchanges over the past few years, according to Peter Krauth, Author of The Great Silver Bull and Publisher of The Silver Stock Investor.
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