Gold closed lower on Tuesday, extending its uptrend in the four sessions as investors wait for the data to be announced tomorrow in the US to show a new jump in inflation.
Investors’ concerns about inflation were further fueled today by the latest measurements of producer prices, which showed a monthly increase of 0.6% in October. On an annual basis, the producer price index jumped 8.6%. This is the highest level since the index was restructured in 2009 and probably one of the highest measurements since the early 1980s.
Against this background, the December delivery of gold earned $ 2.80, or nearly 0.2%, to $ 1,830.80 an ounce. This is the highest level since September 3rd.
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