RTTN:Gold Steady Above $1,305 Ahead Of Inflation Data
Gold prices are little changed Thursday morning as investors await a slew of U.S. economic data, including a closely-watched reading on U.S. inflation.
Gold futures for June are down $0.20 or 0.02 percent at $1,305.70 an ounce.
On Wednesday, gold futures ended up $11.10 or 0.9 percent at $1,305.90 an ounce, amid news that Germany's Bundesbank is on board with the European Central Bank's stimulus plans.
Silver for July delivery is down $0.080 or 0.40 percent at $19.695 an ounce.
Meanwhile, copper is down $0.005 or 0.15 percent at $$3.155 per pound.
The U.S. Labor Department is scheduled to release its consumer price inflation report for April at 8:30 am ET. The consensus estimate calls for a 0.3 percent month-over-month increase in consumer prices and a 0.1 percent increase in core consumer prices.
The jobless claims report for the week ended May 10th will also be released at 8:30 am ET. Economists estimate claims to have declined to 317,000 from 319,000 in the previous week.
Around the same time, the New York Federal Reserve is set to release the results of its regional manufacturing survey for May. Economists expect the general business conditions index to rise to 5 in May from 1.29 in April.
At 9:15 am ET, the Federal Reserve is scheduled to release its industrial production report for April. The consensus estimate calls for flat industrial production growth for the month, while capacity utilization is expected to remain unchanged at 79.2 percent.
The Philadelphia Federal Reserve's manufacturing survey for the region and the National Association of Realtors' report on homebuilder confidence survey will be out at 10 am ET.
