Gold loses ground, dollar off seven-week high

2018-10-10 14:33:48 GMT (Economies.com)
Gold loses ground, dollar off seven-week high

Gold futures tilted lower in American trade while the dollar index slipped from August 20 highs, following earlier inflation data from the US today. 

 

As of 02:06 GMT, gold futures due in December shed 0.08% to $1,190.50 an ounce, while the dollar index slipped 0.10% to 95.60 away from seven-week highs. 

 

Earlier US data showed producer prices rose 0.2% as expected in September, compared to a 0.1% dip in August, while core prices rose 0.2% as well, matching estimates. . 

 

The final reading for wholesale inventories showed a 1% increase, compared to the preliminary reading's 0.8%, and adding to July's 0.6% increase. 

 

Otherwise, Gold holdings at SPDR Gold Trust, the world's largest gold-backed investment fund, steadied yesterday at 730.17 tonnes, the lowest since February 2016, after prices marked the sixth monthly loss in a row in September, the longest such losing streak since late 1996. 

 
 
 
  Symbol Last Change Chg.%
1.1466
-0.0056
0.4878%
1.2994
-0.0078
0.5940%
14.691
0.058
0.393%
69.016
-0.266
0.383%
79.32
-0.50
0.63%
1231.635
4.930
0.402%
 
 
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