Market Updates
Gold Declines On low Inflation
Ivaylo
16 Aug, 2006
Metals
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Gold fell as news broke that wholesale core inflation unexpectedly fell in July. Wholesale prices including food and energy also came in below expectations, suggesting that inflation pressures may be easing.Silver and Copper also fell, while platinum and palladium gained.
[R]5:30AM Gold fell Tuesday on Low Inflationa and Ceasefire.[/R]
December gold futures ended $6.40 lower at $632.90 a troy ounce. September silver contract finished 7.5 cents lower at $12.085 an ounce. October platinum settled up $8.10 at $1,241.40 an ounce. September palladium closed up $6.40 at $324.70 an ounce. September copper moved down 0.95 cent at $3.5275 per pound.
September light, sweet crude oil settled down 48 cents at $73.05 a barrel. September gasoline settled up 0.11 cent at $1.9916 a gallon. September natural gas finished down 5.2 cents at $6.861 per million British thermal units. On the New York Board of Trade, September Arabica coffee ended 2.10 cent higher at $1.0285 a pound. Futures on raw sugar in foreign ports for October finished 0.29 cent higher at 12.79 cents a pound.
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