Online:
Visits:
Stories:

By MTECHTIPS
Contributor profile | More stories

Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

MTECHTIPS:-Gold slides to session lows as robust data points to March rate hike

Thursday, February 16, 2017 0:25

% of readers think this story is Fact. Add your two cents.

(Before It's News)

MTECHTIPS:-Gold slides to session lows as robust data points to March rate hike

MTECHTIPS- Gold prices were under pressure in North American morning trade on Wednesday, sliding to the lowest levels of the session as upbeat U.S. inflation and retail sales data boosted expectations of a March rate hike. Gold for April delivery on the Comex division of the New York Mercantile Exchange slumped $5.10, or about 0.4%, to $1,220.45 a troy ounce by 8:50 AM ET (13:50 GMT), after losing 40 cents on Tuesday. Prices sank to $1,217.50 earlier, a level not seen since February 3. U.S. consumer prices rose at the fastest pace since February 2013 in January, indicating that inflation is gathering momentum. The Commerce Department said that consumer prices increased 0.6% last month, compared to forecasts for 0.3%. Year-over-year, consumer prices were 2.5% higher from the same month a year earlier, the biggest increase in a 12-month span in five years. A separate report showed that retail sales in the U.S. rose more than expected in January, bolstering optimism about consumer spending being able to push economic growth at the beginning of 2017.U.S. retail sales rose 0.4% in January from the prior month, compared to expectations for a 0.1% increase. Investors raised their outlook on a faster pace of U.S. rate increases following the robust data. Fed fund futures priced in around a 27% chance of a rate hike in March, according to www.mtechtips.com’ s Fed Rate Monitor Tool, up from about 17% ahead of the data. Odds of a June increase was seen at around 74%. The yellow metal was already on the back foot after Federal Reserve Chair Janet Yellen left the door open to an interest rate increase at the central bank’s March policy meeting.

mtechtips- Apply For 2 Days Free Trails Equity & Commodity tips

WWW.MTECHTIPS.COM

07489294118-119

Report abuse

Related Stories

Comments

<a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=6ae6ce47e0&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=538185402&cs=6ae6ce47e0&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>

Featured

Predictive Linguistics: Clif High, “Web Bot Warns Dollar Will Dollar Collapse on August 21, 2017”

Pamela Geller Facebook Live on Facebook Bans, Jihad in Israel and Minneapolis Muslim Cop (Video)

X22Report Money Supply Drops, Last Time This Happened it Ended in a Disaster - Episode 1338a

This Easy-to-Break Law Will Cost You $1 Million and 20 Years in Jail!

Jill Stein Drops Truth Bomb on DNC: Mocks Crazy Russia Conspiracy

Protests Erupt: Demand Mayor Betsy Hodges to Resign, Shuts Down Press Conference

X22Report Multiple Warnings Broadcasted, Is Something Being Planned - Episode 1338b

North Korea Warns US Attacking Kim Jong-un Would End 'Empire of America'

A Stock Market Crash Is Coming!

Extinction Level Events Are Terraforming the Planet

Top Global

Antichrist: Pope Francis Tells Catholics in Rome That a ‘Personal Relationship’ With Jesus Is ‘Dangerous and Harmful’

Shock: Senator John McCain Resting Comfortably After Being Diagnosed With Rare Incurable Brain Tumor

Ice Cold: Florida Teens Film and Mock Drowning Disabled Man While Never Coming to His Rescue

Israel’s Dirty Little Secret

LADY LUMPS: First ‘Female’ Navy SEAL Candidate Might Not Even Be An Actual Woman At All

Turkey: extreme flash flooding hits Istanbul after heaviest rain since 1985

Trump ends covert CIA program to arm anti-Assad rebels

IDF puts 5 battalions on alert, cancels all weekend leave to deal with unrest

Mysterious half buried corpses found on a Russian beach shock locals

This Easy-to-Break Law Will Cost You $1 MILLION & 20 Years in Jail!

Top Alternative

6 Fun Activities to Do with Your Dog

X22Report Multiple Warnings Broadcasted, Is Something Being Planned - Episode 1338b

Pamela Geller Facebook Live on Facebook Bans, Jihad in Israel and Minneapolis Muslim Cop (Video)

Infowars Nightly News - Friday (7-21-17)

Last Day and Ikea

Noises in the Dark

Pet-Sitting Is Illegal in New York City

Sean Spicer Resigns as Press Secretary

Why the Earth Is Flat and Why I Don’t Talk about it Anymore! with Michael Tellinger

Nevermind: Sean Hannity Won’t Be Receiving Media Excellence Award, After All

Email this story

Email this story

<a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=1624098258&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=538185401&cs=1624098258&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>