Spot gold at $4,025/oz as U.S. GDP growth rises 3.4% in Q3, core PCE rises 2.5%

(Kitco News) - The U.S. economy showed surprising strength as growth increased more than expected in the previous quarter, while core PCE inflation rose above expectations in Q3 and September PCE held steady.The Bureau of Economic Analysis announced that the advance reading of the third-quarter Gross Domestic Product showed the economy grew 3.4% between July and September, up from 2.2% in the second quarter. The data was better than economists' expectations, as consensus forecasts were looking for a growth rate of 3.2%.