Quotes of gold increased significantly updating the 10 of August high, but then lost most of the positions on the background of mixed US economic data and optimistic statements by Fed officials.

The US Department of Labor said that US consumer prices remained unchanged in July, as the cost of gasoline has fallen for the first time in five months. Consumer price index was the weakest since February, and followed two consecutive monthly increases of 0.2 percent. During the 12 months to July, the consumer price index rose 0.8 percent after rising 1.0 percent in June. Economists forecasted that the consumer price index will be unchanged last month and will grow at 0.9 percent y/y. The coreCPI, which excludes food and energy, rose 0.1 percent in July. It grew by 0.2 percent in the previous three consecutive months. Core increased by 2.2 percent y./y, after rising 2.3 percent in June. In July, the price of gasoline fell by 4.7 percent, the first decline since February. Gasoline prices rose 3.3 percent in June. Food prices have not changed, but the cost of food consumed at home fell 0.2 percent.

At the same time, a separate report from the Commerce Department showed that new homes in the US unexpectedly rose in July, as construction activity increased across the board. New home sales index rose by 2.1 percent to a seasonally adjusted annual rate of 1.2 million units, the highest level since February. Building permits fell 0.1 percent to 1.15 million units.

Investors are watching economic data to determine whether the US economy has strengthened enough to make the Fed aise interest rates later this year. Recall, higher interest rates tend to have a downward pressure on gold. According to the futures market, the likelihood of a Fed hike is September is 18%. Meanwhile, the probability of a rate hike in December is estimated at 50.3% versus 44.8% yesterday.

From a technical point of view, the next support level for gold is $ 1335 per ounce, while strong resistance lies at around $ 1,355- $ 1,360 per ounce.

The cost of gold futures on COMEX rose to $ 1,349.30 an ounce.