Gold prices fell at the settlement of trading the day before yesterday, following data raised concerns regarding the continued tightening of US monetary policy.
Data revealed that the primary personal consumption expenditures index, the US Reserve’s favorite for measuring inflation, rose 0.6% in January, exceeding expectations of 0.5%, and more than recorded in December at 0.4%. Upon settlement, gold futures contracts for April delivery fell 0.5%, or $9.70, to $1817.10. In total trading for the week, the most active contract for the metal declined 1.8%, in the fourth consecutive weekly loss.
