Gold prices bouncing off its lows as annual US core CPI rises to its highest level since 1992

The gold market appears to be catching a bid following the strong headline number.

However, other analysts note that despite the rise in inflation, the Federal Reserve will not be in a hurry to tighten interest rates anytime soon.

“While the annual figures are being boosted by the comparison to weak year-ago readings, and the jump in inflation has been anticipated by the Fed, even when stripping out base effects by comparing the index to February 2020, core inflation is running above 2% on an annualized basis.

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