Gold held overnight gains on Thursday as investors awaited data on consumer prices in the U.S.
Comex gold for December delivery rose 0.26% to $1.182.70 a troy ounce.
December Comex silver was lower 0.04% to $16.110 a troy ounce.
December Comex copper edged up 0.22% to $2.421 a pound.
Investors await the release of the Consumer Price Index in the U.S. later in the global day for further signals on if Federal Reserve could raise short-term interest rates before the end of the year.
Economists expect the headline CPI to fall by 0.2% for the month, but await that the core reading will climb 0.1% from its level in August.
Overnight, gold futures jumped more than $10 an ounce on Wednesday hitting near-four month highs, as investors rushed to the safe haven asset amid a series of disappointing economic data around the globe.
Wednesday jump in gold coincided with a sell-off in the greenback, following the release of disappointing reports on retail sales and producer pricing last month.
On Wednesday morning, the U.S. Department of Commerce said retail sales nationwide climbed 0.1% in September, matching the low end of consensus estimates. Gasoline sales weighed significantly on the overall reading, plunging by 3.2% for the month. The core reading, minus auto and gas sales, remained flat on a monthly basis, but it remained by 3.8% over the last year.
Elsewhere, the U.S. Bureau of Labor Statistics said its Producer Price Index dipped by 0.5% in September, below low estimates of consensus forecasts for a 0.4% monthly loss. On a yearly basis, the data is just as grim. Over the last 12 months, producer prices have fallen by 1.1%, down from a fall of 0.8% in August.
Credit: mql5.com
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