Prime News: Gold Drops to Lowest in Almost 2 Weeks, US Inflation Data Eyed

Gold prices slipped early on Thursday to waver around its lowest in almost two weeks, as investors turned their focus on U.S. consumer inflation data set to be released later for clues on the timing of further interest rate increases.
Spot gold fell 0.2 percent at $1,320.21 per ounce, after earlier tumbling to its weakest since Sept. 1 at $1,318.96.
U.S. gold futures for December delivery fell 0.3 percent at $1,324.50 per ounce.
The precious metal's move was lower as the dollar index turned higher following a report which showed that U.S. producer prices rose in August and as traders turned their focus to U.S. consumer inflation data.
Demand for gold, seen as a safe investment in uncertain times, rebounded earlier after U.S. President Donald Trump promised stronger measures against North Korea and Pyongyang, promising to fight off what it said was the threat of a U.S. invasion.
Asian stocks were lower on Thursday, consolidating after ascending a decade-peak, while the dolla..

Gold prices slipped early on Thursday to waver around its lowest in almost two weeks, as investors turned their focus on U.S. consumer inflation data set to be released later for clues on the timing of further interest rate increases.

Spot gold fell 0.2 percent at $1,320.21 per ounce, after earlier tumbling to its weakest since Sept. 1 at $1,318.96.

U.S. gold futures for December delivery fell 0.3 percent at $1,324.50 per ounce.

The precious metal's move was lower as the dollar index turned higher following a report which showed that U.S. producer prices rose in August and as traders turned their focus to U.S. consumer inflation data.

Demand for gold, seen as a safe investment in uncertain times, rebounded earlier after U.S. President Donald Trump promised stronger measures against North Korea and Pyongyang, promising to fight off what it said was the threat of a U.S. invasion.

Asian stocks were lower on Thursday, consolidating after ascending a decade-peak, while the dollar was steady ahead of the U.S. inflation report for August is released.

Holdings of the largest gold-backed ETF, New York's SPDR Gold Trust, increased 0.35 percent on Tuesday from Monday.

The material has been provided by InstaForex Company – www.instaforex.com

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