Gold price steady as U.S. annual core PCE beats expectations

Gold is largely unchanged after the U.S. annual core PCE price index came in above expectations in April, advancing 3.1% versus the expected 1.4%.

On a monthly basis, the core PCE price index was up 0.7% in April, the U.S. Department of Commerce said on Friday.

The core inflation strips out volatile food and energy prices and is the U.S. central bank’s preferred inflation measure.

Gold first retreated but then recovered its minor losses following the data released. June Comex gold futures were last trading at $1,893.90, down 0.09% on the day.