CHICAGO, Dec. 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday on slowed inflation data.
The most active gold contract for February delivery rose 17.80 U.S. dollars, or 0.87 percent, to close at 2,069.10 dollars per ounce.
The U.S. Commerce Department reported Friday that the personal consumption expenditures (PCE) price index, an inflation gauge the Federal Reserve closely monitors, fell 0.1 percent in November from October, the first decline since April 2020. It's up 2.6 percent year over year and is a sign the United States can continue controlling inflation while avoiding a recession.
The gauge of inflation preferred by the Federal Reserve slowed, again boosting market expectations that the U.S. central bank may cut interest rates in early 2024, supporting gold.
Other economic data released on Friday were mixed. The U.S. Commerce Department reported that U.S. new durable goods orders jumped 5.4 percent from October to November to 295.4 billion dollars, significantly higher than analysts had anticipated.
The U.S. Commerce Department reported that U.S. sales of new single-family houses came in at a seasonally adjusted annual rate of 590,000, around 12 percent below October's figure. This was slightly above November 2022's pace of 582,000.
The Consumer Sentiment Index released by the University of Michigan (UM) Surveys of Consumers rose to 69.7 in the December 2023 survey, up from 61.3 in November and above last December's 59.8, as consumers expect easing of inflation.
Silver for March delivery fell 2.00 cents, or 0.08 percent, to close at 24.565 dollars per ounce. Platinum for January delivery rose 11.50 dollars, or 1.19 percent, to close at 981.80 dollars per ounce. ■