| Gold prices extended their rally to a three-month high on Thursday, as lower producer-price data fueled hopes the Federal Reserve will put off raising U.S. interest rates. The most actively traded contract, for June delivery, rose $7, or 0.6%, to settle at $1,225.20 a troy ounce on the Comex division of the New York Mercantile Exchange. That was the highest close since Feb. 13, when prices ended at $1,227.10 an ounce.
The U.S. producer-price index, a measure of prices businesses receive for their goods and services, fell 0.4% in April from March. Core prices, which exclude food and energy, fell 0.2%. Economists surveyed by The Wall Street Journal had expected both overall and core prices to climb 0.1%. ........................................Full Article: Source
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