Los Angeles CA, October 16 (Tangible Investments) — by James O’Dell — Precious metals prices edged higher on Monday as Gold firms on weak inflation data. Gold is up 0.14 percent to $1,305.10 an ounce after climbing $10.20 on Friday to finish the week at $1,303.30.

Silver is up 0.14 percent to $17.43 an ounce after adding $0.18 on Friday to end the week at $17.41. The Gold/Silver ratio fell to 74.86. Platinum is up 0.21 percent to $946.00 an ounce. Palladium is up 1.43 percent to $994.00 an ounce.

Gold rose in early trading on Monday after getting a boost from a weaker-than-expected Consumer Price Index (CPI) reading on Friday. The weak inflation data lowers prospects for higher U.S. interest rates in 2018, say analysts.

“Last Friday we had rather disappointing CPI number, which further enforced the view that there’s no need for the Fed to be very aggressive in terms of rate hikes,” said analyst Carsten Menke of Julius Baer. “Now it seems that Gold has some legs above $1,300 level, which attracts some technical buying. The bulls have the upper hand, at least for the moment. I wouldn’t expect a sharp down move over the next couple of weeks.”

Likely Rate Hike In December

Meanwhile, Fed Chair Janet Yellen, while speaking at a banking seminar in Washington on Sunday, said that the “ongoing strength of the economy will warrant gradual increases,” in short-term interest rates. The market has priced in a 76 percent chance that the Fed will boost interest rates at its December meeting.

The odds of a December rate hike were less than 20 percent just a month ago, but the market has barely two increases priced in next year, not the three that the Fed has been looking for. Earlier this year they were calling for four increases next year. Clearly the Fed’s aggressive stance on interest rate increases has weakened considerably due to lagging inflation.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.888.655.9255 today.

Let the helpful staff at Tangible Investments, owned and operated by world-renowned coin expert Silvano DiGenova, assist you in your next purchase or sale. You may also wish to click here to check out our eBay store. Tangible Investments is the leading buyer of rare Gold and Silver coins, art, antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost. Come in or call 1.888.655.9255 now for a free quote.