Gold hits 14-month peak as dollar plumbs four-month trough

2018-01-12 15:34:33 GMT (Economies.com)
Gold hits 14-month peak as dollar plumbs four-month trough

Gold futures rose to the highest since November 9, 2016 in American trade as the dollar index dipped to September 8 lows, following a basket of data from China, the world's largest metals consumer, and the US, the world's largest economy. 

 

As of 02:59 GMT, gold futures due on February 15 rose 0.39% to $1,327.60 an ounce from the opening of $1,322.50, while the dollar index shed 0.62% to 91.29 from the opening of 91.85. 

 

Earlier Chinese data showed the trade surplus ballooning to $54.69 billion in December from $40.21 billion in November, beating expectations of a drop to $37.44B. 

 

Earlier US data showed US retail sales rose 0.4% m/m in December, slowing down sharply from 0.9% in November, revised from 0.8%, while analysts expected a 0.5% increase. 

 

Core sales rose 0.4%, besting expectations of 0.3%, while still sharply down from November's 1.3% increase, revised from 1%.

 

 US consumer prices rose 0.1% in December in line with expectations, slowing down from 0.4% in November. 

 

Core prices, excluding food and fuel, rose 0.3% m/m, besting expectations of 0.2%, and up from November's 0.1% rise. 

 

Gold holdings at the SPDR Trust, the world's largest gold-backed investment fund, settled on Thursday at 828.96 tonnes, the lowest since August 29, after rising 3% on 2017, or about 23.63 tonnes. 

 
 
 
  Symbol Last Change Chg.%
1.1748
0.0117
1.0051%
1.3079
0.0010
0.0727%
14.296
0.229
1.624%
70.832
1.845
2.674%
78.76
0.06
0.08%
1199.070
5.295
0.444%
 
 
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