(Kitco News) – Gold prices are trading slightly up in morning dealings Tuesday, as the U.S. dollar index has backed down from its overnight high following another very tame U.S. inflation report. The producer price index for December came in at down 0.2% from November. This is yet another piece of economic data that falls squarely into the camp of U.S. monetary policy doves, who want the Federal Reserve to stand pat on interest rates. February gold was last up $1.10 at $1,292.40.
By Jim Wyckoff
For Kitco News
Contact jwyckoff@kitco.com
www.kitco.com
