Home / Forex Analysis / Gold Steady After Mixed PPI Report

Gold Steady After Mixed PPI Report

Gold futures were slightly higher Wednesday morning, trimming weekly losses as traders weighed U.S. wholesale inflation data.

PPI advanced 2.4% in past 12 months, up from 1.9%. However, core prices stripping out oil and food remained at 1.9% inflation.

December gold was up 0.4% at $1338 an ounce, as the dollar weakened on the economic data.

Gold’s safe haven appeal was lifted by slumping equities following Apple’s lackluster product launches yesterday.

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