TeleTrade - Analytics

TeleTrade

518.25 6.75/10
57% of positive reviews
Real

12.06.2015 15:21 Gold price traded lower due to a stronger U.S. dollar

 

Gold price traded lower due to a stronger U.S. dollar. The U.S. producer price index increased 0.5% in May, exceeding expectations for a 0.4% gain, after a 0.4% drop in April. It was the largest increase since September 2012.

 

 

On a yearly basis, the producer price index decreased 1.1% in April, in line with expectations, after a 1.3% fall in April.

 

 

The rise was driven by higher food and gasoline prices. Gasoline prices jumped 17.0% in May, the largest rise since August 2009. Food prices climbed by 0.8%, driven by a shortage of eggs, and as wholesale egg prices jumped a 56.4% in May.

 

 

The producer price index excluding food and energy climbed 0.1% in May, in line with expectations, after a 0.2% decrease in April.

 

 

On a yearly basis, the producer price index excluding food and energy climbed 0.6% in May, missing forecasts of a 0.7% increase, after a 0.8% rise in April.

 

 

The figures added to speculation on that the Fed will start raising its interest rate this year.

 

 

The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 94.6 in June from a final reading of 90.7 in May, exceeding expectations for an increase to 91.5.

 

 

Gold price was supported by the uncertainty over the Greek debt talks. The International Monetary Fund (IMF) spokesman Gerry Rice said on Thursday that the IMF's technical team has left the debt talks in Brussels. The reason is "major differences", he noted.

 

 

News reported that Germany was preparing for a Greek default.

 

 

June futures for gold on the COMEX today fell to 1176.20 dollars per ounce.

 

 

Gold price traded lower due to a stronger U.S. dollar. The U.S. producer price index increased 0.5% in May, exceeding expectations for a 0.4% gain, after a 0.4% drop in April. It was the largest increase since September 2012.

 

 

On a yearly basis, the producer price index decreased 1.1% in April, in line with expectations, after a 1.3% fall in April.

 

 

The rise was driven by higher food and gasoline prices. Gasoline prices jumped 17.0% in May, the largest rise since August 2009. Food prices climbed by 0.8%, driven by a shortage of eggs, and as wholesale egg prices jumped a 56.4% in May.

 

 

The producer price index excluding food and energy climbed 0.1% in May, in line with expectations, after a 0.2% decrease in April.

 

 

On a yearly basis, the producer price index excluding food and energy climbed 0.6% in May, missing forecasts of a 0.7% increase, after a 0.8% rise in April.

 

 

The figures added to speculation on that the Fed will start raising its interest rate this year.

 

 

The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 94.6 in June from a final reading of 90.7 in May, exceeding expectations for an increase to 91.5.

 

 

Gold price was supported by the uncertainty over the Greek debt talks. The International Monetary Fund (IMF) spokesman Gerry Rice said on Thursday that the IMF's technical team has left the debt talks in Brussels. The reason is "major differences", he noted.

 

 

News reported that Germany was preparing for a Greek default.

 

 

 

June futures for gold on the COMEX today fell to 1176.20 dollars per ounce.

 

 



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree