Gold Up, as U.S. Inflation Data Pushes Treasury Yields and Dollar Lower

Investing.com – Gold was up on Thursday morning in Asia, hitting a one-week peak as investors digested further progress on a massive U.S. stimulus package and U.S. inflation data that fell below expectations.

Gold futures were up 0.42% at $1,729 by 11:49 PM ET (4:49 AM GMT). The dollar, which usually moves inversely to gold, inched down on Thursday.

Data released on Wednesday said that U.S. core consumer prices rose 0.1% month-on-month in February, down from the 0.2% growth in forecasts prepared by Investing.com but unchanged from the 0.1% growth recorded in January. Prices rose 1.3% year-on-year, slowing down slightly from the forecast 1.4% growth, and the 1.4% growth recorded in January.