Weekly Market Analysis / 30 January- 3 February 2023

Last week, the US producer price index and the “Beige Book” report were followed in global markets. In the US, the producer price index (PPI) decreased by 0.5% monthly in December, the biggest decrease since April 2020. PPI increased by 6.2% on an annual basis. In the Fed's "Beige Book" report, it was stated that general economic activity has not changed since November, while limited growth is expected in the economy in the coming months and consumer spending has increased slightly due to stronger sales during the holiday season. An ounce of gold continues to be priced above $1.900. This level seems to have been the main support.