Gold prices fell at the settlement of trading on Wednesday, with the rise of the dollar after the release of inflation data in the United States.
Data from the US Bureau of Labor Statistics showed that the consumer price index rose by 4.9% on an annual basis during April, which is less than expectations of its stability at 5%, but it remains much higher than the central target of 2%, despite being the lowest level in two years.
John Williams, President of the Federal Reserve Bank of New York, said that progress in combating hyperinflation is remarkable, but the completion of raising interest rates has not been announced, as he sees continued price pressures, despite the gradual slowdown in demand for labor and goods.
Markets are awaiting the release of producer price inflation data in the United States on Thursday, with expectations that the producer price index will slow to 2.4% in April on an annual basis.
Upon settlement, June delivery fell 0.3%, or $5.8, to $2,037.1 an ounce.
On the other hand, the index that measures the performance of the US currency against a basket of six major currencies settled at 101.60 points.
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2023-05-10 18:46:00
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