NEW YORK (AFX) - Gold futures fell Tuesday at the New York Mercantile Exchange due to lower-than-expected inflation data and a continued cease-fire in Lebanon.
December gold futures settled $6.40 lower at $632.90 a troy ounce.
The contract went as low as $630.50 after news broke that wholesale core inflation unexpectedly fell in July. Wholesale prices including food and energy also came in below expectations, suggesting that inflation pressures may be easing.
The Producer Price Index for finished goods rose 0.1 percent on a seasonally adjusted basis last month, after increasing 0.5 percent in June, the Labor Department reported.
The PPI for goods excluding food and energy costs fell 0.3 percent.
September silver contract settled 7.5 cents lower at $12.085 an ounce. The contract got as low as $11.85 but managed to hold above the key $12 mark.
October platinum settled up $8.10 at $1,241.40 an ounce. September palladium settled up $6.40 at $324.70 an ounce.
Copper futures fell on speculation that a weeklong strike at Chile's Escondida copper mine could end soon as both sides continue negotiations. September copper settled down 0.95 cent at $3.5275 per pound.
September light, sweet crude oil settled down 48 cents at $73.05 a barrel. September gasoline settled up 0.11 cent at $1.9916 a gallon. September heating oil settled up 0.88 cent at $2.0235 a gallon.
September natural gas settled down 5.2 cents at $6.861 per million British thermal units.
On the New York Board of Trade, September Arabica coffee ended 2.10 cent higher at $1.0285 a pound.
The September cocoa contract finished up $4 at $1,524 per metric ton.
Futures on raw sugar in foreign ports for October settled 0.29 cent higher at 12.79 cents a pound.
On the Chicago Board of Trade, December corn gained 0.25 cent to $2.3850 per bushel. September soybeans ended 0.25 cent higher at $5.5650 per bushel. September wheat futures ended 2.75 cents higher at $3.7675 per bushel.
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