Gold was steady after posting the biggest decline in two weeks as investors weighed U.S. data signaling that the economy remained on a solid footing, boosting the dollar and eroding the appeal of bullion.
The producer price index rose 0.6 percent in March, topping estimates. Filings for U.S. unemployment benefits unexpectedly dropped, falling to the lowest level since 1969. Jobless claims decreased to 196,000 in the week to April 6, Labor Department figures showed Thursday. That was below all estimates in Bloomberg’s survey of economists, which had called for an increase.
Spot gold +0.1% to $1,294.01/oz at 7:42am in London.
Source : Bloomberg