By Krystal Hur, CNNNew York (CNN) — Goldbugs are rejoicing as their favorite precious metal continues to reach new heights. When interest rates fall, holding income-paying assets (like bonds) becomes less appealing than owning the precious metal. The precious metal tends to be popular during times of global economic unease, since it’s a tangible asset and less risky than stocks. The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, rose 2.4% for the 12 months ended in January. On a monthly basis, the core PCE price index that strips out the more volatile food and energy categories rose 0.4%.

Source: CNN March 05, 2024 23:21 UTC