Gold Price Steadies As Trump Fires FBI Director

Washington (May 10)  Gold futures rose Weddnesday, trimming big recent losses after President Donald Trump abruptly fired FBI Director James Comey last night.

Disappointing Chinese economic data also rattled investors, boosting gold's safe haven value.

China's inflation accelerated to a 3-month high in April, but factory gate inflation eased on weakening commodity prices, data published by the National Bureau of Statistics showed Wednesday.

June gold rose USD7 to USD1223.80 an ounce, rebounding from a 2-month low.

The Labor Department's Import and Export Prices for April will be issued at 8.30 am ET. Economists are looking for import and export prices to rise 0.1%.

Regional Fed presidents Eric Rosengren and Neel Kashkari will speak for a second day in a row.

Source: Alliance