Gold Slipped After Robust U.S. Economic Data Pointed To A Stronger Economy

Gold trading range for the day is 28847-29509. Gold slipped after robust U.S. economic data pointed to a stronger economy, increasing the likelihood that the Federal Reserve will raise U.S. interest rates.

Data showing rising U.S. wholesale inventories and an unexpectedly low number of Americans filing for unemployment benefits pushed up the dollar. 

Fed’s Charles Evans, a voter on policy this year, told reporters it is reasonable to expect the Fed to raise rates three times this year.

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