Gold ends lower on the Comex
New York (Apr 14) Gold futures trimmed losses early today after a weaker-than-expected rebound in U.S. retail sales for March, but still settled at their lowest level of the month as traders weighed the timing of an interest-rate hike by the Federal Reserve.
Gold for June delivery on fell 0.6% to end at $1,192.60 an ounce on the Comex.
The Commerce Department said March retail sales rose by a seasonally adjusted 0.9%, the strongest gain in a year but below the 1.1% rise forecast by economists surveyed by MarketWatch.
Producer prices rose by a seasonally adjusted 0.2% in March after four straight months of declines. Economists had penciled in a rise of 0.3%.
In other metals trading, May silver fell 0.8% to US$16.161 an ounce.
July platinum lost 20 cents to US$1,153.70 an ounce, while June palladium was off 1.2% to US$762.50 an ounce.
May copper eased 0.7% to US$2.70 a pound.