At least initially it does not appear that softer price measures from the UK and Europe have had an impact on gold and silver prices.
Seeing softer inflation on the other side of the Atlantic helps tamp down the threat of higher rates abroad. In fact, overnight an ECB council member known as a hawk indicated monetary tightening beyond its next meeting is anything but a guarantee!
However, the gold market certainly got a significant lift from a 2nd straight day of disappointing US scheduled data yesterday which in turn apparently reduced expectations for US rate hikes beyond next week...[MORE]
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