Today’s AM LBMA Gold Price was $1,206.75, €1,085.33 and £777.57 per ounce.
Yesterday’s AM LBMA Gold Price was $1,219.65, €1,090.24 and £785.31 per ounce.
April building permits came in at 1.14 million surpassing the estimate 1.06 million and housing starts also beat expectations at 1.135 million versus the analyst forecast of 1.02 million. In addition to the housing data the U.S. dollar was also strengthened on the news that the EU is going to ramp up their quantitative easing to buy more bonds in the next two months.
The U.S. FOMC meeting minutes from the April 28-29 meeting will be released this evening at 1800 GMT. Investors will be looking for any clues on the timing of the Fed’s first interest rate hike in nearly ten years.
Gold in Singapore near the end of trading fell 0.3% to $1,204 an ounce.
Greece’s next deadline is June 5th for a 305 million payment due to the IMF. They will not be able to meet the deadline without a cash for reform deal with their European Union counterparts and the IMF.
In late morning European trading gold is at $1,208.30 an ounce down 0.10%. Silver is off slightly 0.01% at $17.12, an ounce, while platinum is up 0.10% at $1,154.50 an ounce.