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15-Jul2017

Gold futures end higher on Friday

Gold futures ended higher on Friday after data pointed to weak US inflation, reaffirming doubts that the US central bank would again hike interest rates this year. The Labor Department said its consumer price index was flat in June after edging down by 0.1 percent in May. US retail sales unexpectedly decreased for the second consecutive month in June. The Commerce Department said retail sales fell by 0.2 percent in June after edging down by a revised 0.1 percent in May.

Gold futures for August delivery gained $10.20 or 0.84 percent, to settle at $1,227.50 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.96 percent at $1,228.61 an ounce.


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