Investing.com - Investing.com - Gold prices edged lower in U.S. trading on Tuesday after data revealed both consumer prices and existing home sales are on the rise in the U.S., which should prompt the Federal Reserve to do away with loose monetary policies that have supported the commodity for years.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,306.70 a troy ounce during U.S. trading, down 0.55%, up from a session low of $1,302.60 and off a high of $1,315.80.
The August contract settled up 0.34% at $1,313.90 on Monday.
Futures were likely to find support at $1,292.60 a troy ounce, the low from July 15, and resistance at $1,319.00, Monday's high.
The Labor Department reported earlier that the U.S. consumer price index rose 2.1% in June, unchanged from the previous month and in line with forecasts, which strengthened the dollar and weakened gold, as the two assets tend to trade inversely with one another.
On a month-over-month basis, U.S. consumer prices were up 0.3% after a 0.4% increase in May, also in line with expectations.
The data kept expectations firm that the days of loose monetary policies that have supported gold since the Great Recession in the U.S. are coming to an end.
Market talk points to the Fed ending its bond-buying program around October and then raising interest rates some time in 2015, though the length of time that will pass between those two policy moves remains up in the air.
June's core inflation rate, which excludes food and energy costs, rose by just 0.1% from May and 1.9% on year, slightly below market calls for 0.2% and 2.0% readings, respectively, which illustrated how gasoline was driving the CPI up, though markets viewed the numbers as fundamentally healthy anyway.
Elsewhere, the National Association of Realtors reported earlier that existing U.S. home sales rose 2.6% to 5.04 million units in June from 4.91 million in May, beating market forecasts for a 2.0% rise to 4.97 million units.
Meanwhile, silver for September delivery was down 0.02% at $21.008 a troy ounce, while copper futures for September delivery were up 0.29% at $3.208 a pound.
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!
Anda sedang membaca artikel tentang
Gold falls on upbeat U.S. inflation, home sales data
Dengan url
http://efektifkesehatan.blogspot.com/2014/07/gold-falls-on-upbeat-us-inflation-home.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Gold falls on upbeat U.S. inflation, home sales data
namun jangan lupa untuk meletakkan link
Gold falls on upbeat U.S. inflation, home sales data
sebagai sumbernya
0 komentar:
Posting Komentar