Gold and silver prices extended losses after the release of U.S. PPI and initial claims data
On December 12, after the US PPI and initial jobless claims data exceeded expectations, gold prices continued to fall, and the decline in silver also expanded rapidly, with spot prices falling more than 2%.
Paul Ashworth, an analyst at Capital Economics, said: "The components of the PCE, the Federal Reserve's preferred measure, are generally weak, and the CPI data released yesterday indicates that the monthly rate of core PCE will only rise slightly by 0.03%. It now appears that the Federal Reserve is more likely to cut rates by another 25 basis points next week." At the same time, the number of initial jobless claims increased by 17,000 last week, the highest level since mid-October last year, while economists had expected a decrease of 4,000 to 220,000.
