MCX GOLD UPDATE

As per MCX www.crudeoperator.com intraday research Mumbai base company report for :
 Gold ended up despite strong U.S. data, Yellen rate hike hints 

Gold rose as the dollar came off its highs on Wednesday, shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises. U.S. Federal Reserve Chair Janet Yellen said on Tuesday that delaying increases could leave the Fed's policymaking committee behind the curve. On Wednesday, Philadelphia Fed President Patrick Harker repeated his view that the central bank should continue to raise interest rates this year. US consumer prices rose 0.6% for January after a 0.3% increase in December and this was also well above consensus expectations of a 0.3% gain. The monthly increase was the strongest since February 2013 with gains led by energy which rose 4.0% on the month to give a 10.8% annual increase. The year-on-year rate increased to 2.5% from 2.1% and the highest rate since March 2012. Excluding food and energy, prices rose 2.3% over the year from 2.2% previously. The inflation data overall will maintain expectations that inflationary pressures are rising and there will be additional pressure for a Federal Reserve tightening. US retail sales rose 0.4% for January compared with expectations of a 0.1% gain with the December advance revised higher to 1.0% from 0.6%. Underlying sales rose 0.6% on the month and control-group sales rose 0.4%. There was also a stronger than expected reading for the New York Empire manufacturing index at 18.7 for February from 6.5 previously

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