Gold Hits Session Highs on Safe-Haven Demand After U.S. Inflation Data Disappoints

Gold Hits Session Highs on Safe-Haven Demand After U.S. Inflation Data Disappoints

Gold prices rose on Thursday to reach their highest levels after data showed that US production prices fell unexpectedly in July, the biggest drop in nearly a year. In addition to demand for safe haven caused by high tension on the Korean Peninsula, gold prices kept rising on Thursday.

Comex gold futures rose to a daily peak of $1,291.20 a troy ounce. It was last at $1,290.45, up $11.10, or around 0.9%.

MCX Gold was trading 0.25 per cent up at Rs 28,915 per 10 gram.

The Labor Department said the producer price index fell 0.1 percent last month, reflecting June’s gains of 0.1 percent. July’s decline was the largest since August 2016.

In the 12 months to July, the producer price index rose 1.9% after rising 2.0% in the year to June.

Economists had expected PPI to rise by 0.1% last month and 2.2% higher than last year.

The unexpected resulting decline is producer prices to support bets the slow pace of raising interest rates from the Federal Reserve.

Latest holdings at the SPDR Gold Trust fell a slight 0.03 per cent to 786.87 tonnes on Monday, the lowest since March 2016.

For Commodity Market TradingMCX Live Trade CallsGold-Silver Market Prices and trading market latest news & updates  with 100McxTips, follow us on Twitter @100mcxtips and Like on Facebook.  And to contact the reporter on this story email at or Call: +91-761-4012307.

Free Mcx Tips


MCX Commodity Tips is an experienced Commodity Research Advisory to predict investors buying and trading trends at various market environments. For free trial advisory on commodity Gold, Silver, Crude, Copper and all Indian Commodities kindly visit us and submit an query form at commodity free trial tips here.

Posted in Commodity, MCX, Stocks Market

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
M-Sat : 10am - 7pm

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

NG Trading Tips
Free Trial Commodity Tips
Disclaimer: 100McxTIps would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Bulloin Futures prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore 100McxTips doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
%d bloggers like this: