Spot gold trades at $4,074/oz as U.S. GDP rises 1.5% in Q2, core PCE rises 0.1% in June - KITCO
Spot gold trades at $4,074/oz as U.S. GDP rises 1.5% in Q2, core PCE rises 0.1% in June - KITCO
Source: KITCO
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DW NOTE
The Q2 GDP figure is stale data masquerading as news — the quarter ended 30 days ago. What matters is the 0.1% monthly core PCE print: if sustained, that annualises to 1.2%, well below the Fed's 2% target. Gold has now fallen 22.8% from its January peak to $4,074, suggesting six months of safe-haven unwinding that a single benign inflation reading won't reverse.