InfoQuest News Agency (25 Jan ’24)
Gold futures prices rose above the $2,020 level in response to US economic figures. and the results of the European Central Bank (ECB) meeting.
At 10:28 pm Thai time, gold contracts on the COMEX (Commodity Exchange) market will be introduced in February. it added $6.20 or 0.31% to $2,022.20/oz.
The United States released its 4th quarter 2023 gross domestic product (GDP) numbers today, indicating strong economic conditions. while inflation is slowing
The United States revealed GDP numbers for the 4th quarter of 2023 that were higher than expected. This has eased investors’ concerns about the economic recession.
In addition, investors eased their concerns about inflation. In the GDP report, the Personal Consumption Expenditure (PCE) price index for the 4th quarter of 2023 was said to have increased by 2.7%, slowing from the level of 5.9% in the 4th. /2022, while the Core SNP index, which excludes food and energy categories, increased by 3.2% from 5.1% in the fourth quarter of 2022.
The US Department of Commerce released its first estimate of gross domestic product (GDP) for the 4th quarter of 2023 today, indicating that the US economy grew by 3.3% in the quarter. Above analysts’ expectations of 2.0%.
Previously, the US economy expanded 2.2%, 2.1%, and 4.9% in the first, second, and third quarters, respectively.
The European Central Bank (ECB) decided to hold interest rates at today’s meeting in line with market expectations. This is the third time in a row that the interest rate has been fixed.
Meanwhile, the market will be keeping an eye on the Personal Consumption Expenditure (PCE) price index for December tomorrow.
Analysts expect the headline PCE Index, which includes the food and energy categories, to increase 2.6% year-on-year in December from 2.6% in November.
On a monthly basis, the overall PCE index is expected to increase by 0.2% in December after falling by 0.1% in November.
In terms of the Core SNP Index (Core SNP), which does not include food and energy categories. It is expected to increase by 3.0% in December year on year from 3.2% in November.
On a monthly basis, the core PCE index is expected to increase by 0.2% in December after increasing by 0.1% in November.
By Kongkiat Kawirakiti
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