Commodities
Gold Prices Plunge Amid Strong US Producer Price Data
Gold prices fell on Monday following stronger-than-expected US producer price data. The US PPI rose 0.4% in August, while annual producer inflation accelerated to 5.4%, above the 5.3% forecast.
Traders also raised bets on further ECB tightening after the central bank delivered an expected rate hike and warned that inflation risks remained.
The People's Bank of China extended its gold-buying streak to a 22nd consecutive month, but this did not stem the decline in gold prices. The trading range for gold on Monday was between 149680 and 155780.