RIYADH: Gold prices wobbled in choppy trade on Thursday, as the dollar hit a 20-year high, balancing support from lower Treasury yields, after monthly US inflation data signalled the Federal Reserve would likely stick to its aggressive rate-hike roadmap.
Spot gold edged down 0.1 percent to $1,850.81 per ounce by 0809 GMT.
US gold futures were down 0.2 percent at $1,850.80.
Silver, Palladium down
Spot silver was down 1.3 percent at $21.28 per ounce, while platinum dropped 1.2 percent to $980.25.
Palladium slid 3 percent to $1,974.64.
Wheat up, soybean down
Chicago corn futures slid on Thursday for the first time in three sessions, although the losses were limited by tightening world supplies.
Wheat edged higher, while soybeans ticked down.
The most-active corn contract on the Chicago Board of Trade fell 0.38 percent to $7.85-1/2 a bushel.
Wheat edged up by 0.07 percent to $11.13-3/4 a bushel and soybeans dropped 0.75 percent to $15.94-3/4 a bushel.
Copper drops to 7-month low on demand concerns
Copper prices tumbled on Thursday to their lowest in seven months and other industrial metals fell as traders worried that a slowing global economy would require less metal.
With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a 1-1/2-year low.
The dollar, meanwhile, reached a new 20-year high against a basket of major rivals, making dollar-priced metals costlier for buyers with other currencies.
Benchmark copper on the London Metal Exchange (LME) was down 3.5 percent at $9,017 a ton at 1102 GMT and down 17 percent from a record high of $10,845 reached in March.
(With input from Reuters)
