Gold Prices are slightly up, gaining slightly after a report in U.S. producer prices which was below market expectations.
Still the risk-on attitude which the investors pursued the past week continues to be a bearish weight on the safe-haven gold market.
The slump status of gold and silver markets the past week, have put pressure to sell.
December Comex Gold was last up $1.90 an ounce at $1,226.40.
December Comex Silver was down $0.013 at $17.03 an ounce.
Wednesday, Labor Department said that its Producer price index was unchanged in October following September’s 0.3 percent rise.
Ahead of the report, general expectations called for a 0.3 percent rise.
The PPI excluding food and energy was down 0.2 percent, economists were hoping for a 0.2 percent rise, similar to September gains.
On an annual basis, the headline index is up 0.8 percent, the report said. This is the highest one-year change since last 2014.
Headline core inflation is up to its highest level in two year at 1.2 percent, according to the report.
As much as the Gold is seen as an inflation hedge but it managed to hold on to gains with prices last trading at $1,225.9, up 0.11 percent on the day.
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