Meanwhile, gold gained downside momentum after U.S. reported that Producer Prices increased by 9.6% year-over-year in November compared to analyst consensus of 9.2%. That’s a rather strange reaction to the data which points for higher inflation, and it looks that markets expect that Fed will raise rates aggressively in 2022, which will be bearish for precious metals. This article was originally posted on FX Empire More From FXEMPIRE: Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M Heavy Metal Magazine Enters NFT Space With 5200 Pieces What Next for IOTA Following Tuesday’s 20% Surge?