CHICAGO, July 12 (Xinhua) — Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday ahead of U.S. inflation data release.
The most lively gold contract for August supply fell 6.9 U.S. {dollars}, or 0.4 %, to shut at 1,724.8 {dollars} per ounce.
Gold remained at or close to its weakest stage in 9 months.
U.S. client worth index (CPI) report will come out Wednesday. Market analysts maintain that if the report meets or exceeds market expectations, the Federal Reserve might keep an aggressive stand towards greater rates of interest, beneath which gold might fall under 1,700 {dollars} over the approaching months.
The National Federation of Independent Business on Tuesday reported that its Small Business Optimism Index fell 3.6 factors in June to 89.5, the bottom stage since January 2013, giving gold some assist.
Silver for September supply fell 17.4 cents, or 0.91 %, to shut at 18.958 {dollars} per ounce. Platinum for October supply fell 32.6 {dollars}, or 3.79 %, to shut at 828.1 {dollars} per ounce.
