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    17.11.2015 16:24 Gold price declines on decreasing demand for safe-haven assets and on a stronger U.S. dollar

    Gold price fell on decreasing demand for safe-haven assets and on a stronger U.S. dollar. The greenback rose against other currencies after the release of the U.S. consumer price inflation data. The U.S. Labor Department released consumer price inflation data on Tuesday. The U.S. consumer price inflation rise 0.2% in October, in line with expectations, after a 0.2% fall in September.

     

    The increase was partly driven by higher shelter and medical care costs. Shelter costs climbed 0.3% in October, while medical care costs rose 0.8%.

     

    Gasoline prices were up 0.4% in October, while food prices increased 0.1%.

     

    On a yearly basis, the U.S. consumer price index increased to 0.2% in October from 0.0% in September, beating expectations for a rise to 0.1%.

     

    The U.S. consumer price inflation excluding food and energy gained 0.2% in October, in line with expectations, after a 0.2% increase in September.

     

    On a yearly basis, the U.S. consumer price index excluding food and energy remained unchanged at 1.9% in October, in line with expectations.

     

    December futures for gold on the COMEX today decreased to 1074.80 dollars per ounce.


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