Gold and silver prices extended losses after the release of U.S. PPI and initial claims data

BlockBeats news, on December 12, after the US PPI and initial claims data exceeded expectations, gold prices continued to fall, and silver's decline also expanded rapidly, with spot prices falling by more than 2%.

Paul Ashworth, an analyst at Capital Economics, said: "The components of the PCE preferred by the Federal Reserve are generally weak, and the CPI data released yesterday indicate that the core PCE monthly rate will only rise slightly by 0.03%. It now seems more likely that the Federal Reserve will continue to cut interest rates by 25 basis points next week." At the same time, the number of initial jobless claims increased by 17,000 last week, the highest level since mid-October last year, while economists expected a decrease of 4,000 to 220,000. (Jinshi)