BlockBeats news, on December 12, after the US PPI and initial jobless claims data exceeded expectations, gold prices continued to decline, and the decline in silver also rapidly expanded, with spot prices dropping over 2%.
Paul Ashworth, an analyst at Capital Economics, stated: 'The components of the PCE preferred by the Federal Reserve are generally weak, coupled with yesterday's CPI data, indicating that the core PCE month-over-month will only rise slightly by 0.03%. It now seems more likely that the Federal Reserve will continue to cut rates by 25 basis points next week.' Meanwhile, last week's initial jobless claims increased by 17,000, the highest level since mid-October last year, while economists had expected a decrease of 4,000 to 220,000. (Golden Ten)