Gold heads south on soaring greenback
On Friday, demand for gold slumped in the face of the growth of the evergreen buck…
Gold tacks on in Asia ahead of G7 meeting
On Friday, gold tacked on in Asia, with a gathering of top finance officials from the world's leading economies in Italy at the weekend to talk about issues from trade to currencies.
In New York, June delivery gold futures grew 0.21%, being worth $1,226.75.
Overnight, gold prices ascended, buoyed by a weaker greenback notwithstanding the publication of upbeat economic data.
Gold futures overleapt eight-week minimums amid political turmoil in Washington, right after Trump unexpectedly sacked FBI chief James Comey. Nevertheless, profits were capped by better than expected producer inflation as well as labor market data.
The US Labor Department told its producer price index, assessing inflation before it hits the consumer, tacked on 0.5% in April, which is above expectations for a 0.2% soar.
The overall number of Americans, who opted for unemployment insurance by May 6, sank to 236,000, which is a more than 28-year minimum.
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