Last week, the price of gold dropped following an unexpected rise of 0.6% in last month’s producer price index as reported by the Bureau of Labor Statistics under the department of labor. The increase in producer price index is higher than its 0.3% forecast. This increase also reduced expectations of an interest rate cut by the Fed and boosted the dollar as well as Treasury yields.
Spot gold hit $2,161.39 an ounce, a 0.6% drop. This is quite a decline from its record price of $2,194.99 an ounce, as recorded on…
NOTE TO INVESTORS: The latest news and updates relating to Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) are available in the company’s newsroom at http://ibn.fm/ELRRF
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