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Gold Remains Slightly Softer After U.S. CPI Steady In Jan.

Kitco News

(Kitco News) - Gold remained modestly lower after a government report showing U.S. consumer prices were unchanged during January. Spot gold was last down $1.50 to $1,308.90 an ounce.

The core index for CPI, excluding the volatile food and energy sectors, increased 0.2% in January for the fourth consecutive month, the government said.

Going into the report, consensus expectations compiled by news organizations had been for a rise of 0.1% in the headline figure. The core rate was expected to be up by 0.2%.

The all-items index increased 1.6% for the 12 months ending with January, the smallest increase since the period ending June 2017, the government said. The index for all items less food and energy rose 2.2% over the last 12 months, the same increase as the 12 months ending November and December 2018.

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