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Gold price rockets to session highs as US economy rises 2.2% in Q2, PCE inflation rises 0.2% in August
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(Kitco News) – Better-than-expected inflation and growth data are helping to drive renewed interest in gold on Wednesday morning.The U.S. Bureau of Economic Analysis (BEA) announced on Wednesday that the final reading of second-quarter Gross Domestic Product (GDP) showed that the economy expanded by 2.2%, up from the revised initial reading and also above the first-quarter growth of 2.1%.The data was better than economists’ expectations. The preliminary reading for Q2 growth was revised down to 1.5%.
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