Gold Regains Lost Ground as US Consumer Index Data Reenergizes Investors
Latest figures released by the U.S. Bureau of Statistics show that inflation increased by 3% over the last year, with the consumer price index also rising by 0.3% in September. This announcement saw the price of gold surge to $4,088.52 an ounce as many investors turned to the precious metal to hedge against rising inflation. Northlight Asset Management’s Chief Investment Officer, Chris Zaccarelli, explains that while many investors had expected a huge increase inflation and prepared for this outcome, the market continues to pressure short sellers as it becomes clearer that the economy is more resilient than previously thought. Zaccarelli…