Gold prices extend gains after the latest U.S. data showed PCE inflation rose less than expected. The personal consumption expenditures price index--a measure closely monitored by the Federal Reserve--showed prices increased 0.

The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.

The Federal Reserve's preferred inflation gauge slowed in November, the Commerce Department said on Friday — the first indication of cooling price pressures in months. Why it matters: Inflation remains too high for policymakers' comfort,

The Federal Reserve's preferred inflation measure rose for a second straight month in November, according to government data published Friday, although the increase came in a touch below expectations.

The Federal Reserve's preferred inflation gauge held steady last month, adding another layer of complexity to the central bank's near-term outlook on price pressures and rate cuts. On Friday the Bureau of Economic Analysis' PCE Price Index showed core prices rose at an annual rate of 2.