Producers of metals and other raw materials rose slightly as inflation data weighed on the U.S. dollar.
The personal consumption expenditure index of consumer prices rose 2.8% in November, one of the lowest readings in recent months. The data alleviated fears that the Federal Reserve would cancel all planned 2025 rate cuts.
The U.S. dollar gave back a chunk of recent gains in the wake of the inflation data, after hitting multi year highs following the Federal Reserve meeting. Dollar-sensitive gold futures rose 1.4% to $2,628.70 an ounce, but finished the week with a 1% loss.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
December 20, 2024 17:32 ET (22:32 GMT)
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