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Precious Metals Under Pressure as US Inflation Accelerates

April 15, 2014 at 17:23 by Vladimir Vyun

Gold fell together with other precious metals today on speculations that rising inflation in the United States adds incentive for the Federal Reserve to reduce monetary stimulus faster. The US Consumer Price Index rose 0.2 percent in March. Analysts have expected an increase with the same 0.1 percent rate as in February.

Precious metals were rising earlier as tensions in Ukraine were escalating. Anti-government protests turned deadly after Ukraine used military forces. The threat of a civil war is looming and this may yet help gold and other metals if the situation gets worse.

June futures for delivery of gold declined $15.80 (1.20 percent) to $1,303.20 per troy ounce as of 17:14 GMT on COMEX today. May contract for delivery of silver sank as much as $0.42 (2.09 percent) to $19.53 per ounce. Spot price for platinum was down $19.50 (1.33 percent) to $1,445.38 and palladium dropped $13.50 (0.67 percent) to $796.25 per ounce.

If you have any questions and comments on the commodities today, use the form below to reply.

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