On Wednesday, New York gold futures fell after CPI data came in lower than expected. The US Consumer Price Index (CPI) for April increased by 4.9% YoY, lower than the expected 5%, but the monthly increase of 0.4% was higher than March’s 0.1%. This has caused investors’ optimism about the Federal Reserve’s interest rate cut this year to dissipate, leading to a downturn in gold prices at the end of the day.
The NYMEX/COMEX precious metals futures closing on May 10 and May 9 are as follows:
Commodity 05/10 05/09 Change
Jun Gold 2037.10 2042.90 -5.80
Jul Silver 25.66 25.90 -0.24
Jul Platinum 1119.10 1116.00 +3.10
Jun Palladium 1605.10 1579.70 +25.40