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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2017.10.1708:20:00UTC+00Gold Slides As Stocks Remain Strong

Gold futures fell Tuesday, as rising stocks and a stable U.S. dollar dented the precious metal's safe haven appeal.

Gold was down $11 at $1291 an ounce in early dealing.

In economic news, UK inflation increased in September to the highest since early 2012, data from the Office for National Statistics showed Tuesday.

Inflation rose to 3 percent in September from 2.9 percent in August. The rate came in line with expectations. Inflation was last higher in March 2012.

Meanwhile, Eurozone core inflation was tame at 1.1% compared to 1.2% last month.

In the U.S., the Labor Department's Import and Export Prices for September will be released at 8.30 am ET.

The Redbook, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. The store sales in the previous week was up 3.2 percent.

Fed's Industrial Production report for September will be issued at 9.15 am ET. The consensus is for 0.2 percent growth compared to a decline of 0.9 percent in the prior month.

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