WASHINGTON (dpa-AFX) - Gold prices were flat Wednesday amid data showing wholesale inflation was tame last month.
June gold was down 70 cents, or less than 0.1%, at $1,313/oz. It was the third straight modest decline.
A report released by the Labor Department on Wednesday showed a modest uptick in U.S. producer prices in the month of April.
The Labor Department said its producer price index for final demand inched up by 0.1 percent in April after rising by 0.3 percent in March. Economists had expected prices to edge up by 0.2 percent.
Wholesale inventories in the U.S. increased by less than anticipated in the month of March.
The Commerce Department said wholesale inventories rose by 0.3 percent in March after climbing by 0.9 percent in February. Economists had expected wholesale inventories to increase by 0.5 percent.
Copyright RTT News/dpa-AFX