The most active gold contract for June delivery fell 29.1 U.S. dollars, or 1.57 percent, to close at 1,824.6 dollars per ounce.
The U.S. Labor Department reported Thursday that the U.S. producer price index, a measure of inflation before it reaches consumers, rose 11 percent year on year and 0.5 percent month on month in April, down from 11.5 percent and 1.6 percent in March, respectively.
The department reported that U.S. initial jobless claims increased 1,000 to a seasonally adjusted 203,000 for the week ending May 7, the highest level since mid-February.
Silver for July delivery fell 80.2 cents, or 3.72 percent, to close at 20.773 dollars per ounce. Platinum for July delivery fell 58.4 dollars, or 5.9 percent, to close at 931.4 dollars per ounce.
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