Gold futures on the COMEX division of the New York Mercantile Exchange ended higher on Thursday as the U.S. dollar retreated despite stronger-than-expected U.S. consumer inflation data.
The most active gold contract for December delivery rose 1.3 dollars, or 0.1 percent, to settle at 1,329.3 dollars per ounce.
According to official date released on Thursday, the U.S. Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in August on a seasonally adjusted basis, the biggest increase this year.
On a 12-month-basis, the all items index rose 1.9 percent.
However, some analysts believe the consumer inflation is still below the two percent target set by the Federal Reserve, and this might obstruct its plan to further increase key rates.
The U.S. Dollar Index, a measure of the dollar against a basket of other major currencies, fell 0.32 percent to reach 92.11 as of 1801 GMT.
When the dollar goes down, gold futures will rise as gold, measured by the dollar, becomes cheaper for investors.
The rise of gold was limited by the stock market, which continued to page gains. The Dow Jones Industrial Average went up 41.04 points, or 0.19 percent, to 22,199.22 as of 1811 GMT.
As for other precious metals, silver for December delivery dropped 7.8 cents, or 0.44 percent, to close at 17.789 dollars per ounce. Platinum for October fell 2.3 dollars, or 0.23 percent, to settle at 980.9 dollars per ounce.
The most active gold contract for December delivery rose 1.3 dollars, or 0.1 percent, to settle at 1,329.3 dollars per ounce.
According to official date released on Thursday, the U.S. Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in August on a seasonally adjusted basis, the biggest increase this year.
On a 12-month-basis, the all items index rose 1.9 percent.
However, some analysts believe the consumer inflation is still below the two percent target set by the Federal Reserve, and this might obstruct its plan to further increase key rates.
The U.S. Dollar Index, a measure of the dollar against a basket of other major currencies, fell 0.32 percent to reach 92.11 as of 1801 GMT.
When the dollar goes down, gold futures will rise as gold, measured by the dollar, becomes cheaper for investors.
The rise of gold was limited by the stock market, which continued to page gains. The Dow Jones Industrial Average went up 41.04 points, or 0.19 percent, to 22,199.22 as of 1811 GMT.
As for other precious metals, silver for December delivery dropped 7.8 cents, or 0.44 percent, to close at 17.789 dollars per ounce. Platinum for October fell 2.3 dollars, or 0.23 percent, to settle at 980.9 dollars per ounce.
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