Gold Stays Supported After US Inflationa Readings

Published on Aug 13, 2021 15:44

COMEX Gold futures held around $1760 per ounce today. The metal is being well supported after a bounce from recent 4 month lows. The metal continued to track the US inflationary trend. The US Labor Department said its producer price index for final demand surged up by 1% in July, matching the rise in the previous month. The annual rate of growth in producer prices rose to 7.8% in July from 7.3% in June. This kept the US dollar index around 93 mark. COMEX Gold is trading at $1757 per ounce, up 0.27% on the day.