Gold traded at a two-month low mid-afternoon on Thursday, falling for a fifth-straight session as the dollar continued its post-election rally and rose to the highest in more than two years while another U.S. inflation measure rose last month.
Gold for December delivery was last seen down US$11.40 to US$2.575.10 per ounce, the lowest since Sept.11.
The U.S. Bureau of Labor Statistics reported the October Producer Price Index (PPI) rose by 0.2% from September, up from a revised 0.1% pace a month earlier, but met the consensus forecast, according to Marketwatch. Core PPI, excluding one-time items, rose by 0.3%, up from 0.2% and ahead of the consensus call for a 0.2% rise.
The dollar rose again following the data, with the ICE dollar index last seen up 0.19 points to 106.67, the highest since October, 2022.
Treasury yields fell, with the U.S. two-year note last seen paying 4.296%, up 0.4 basis points, while the yield on the 10-year note was down 5.8 points to 4.41%.
Source : MT Newswires
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