Gold tumbled to new daily lows after a slate of negative macroeconomic data, including the U.S. Producer Price Index (PPI), which disappointed expectations in December by rising just 0.3%. Market’s consensus was expecting to see a rise of 0.4% on a monthly basis. The annual PPI came in-line with market forecasts, rising 0.8%. Core PPI, which strips out volatile food and energy prices, disappointed with a rise of 0.1% versus the expected 0.2% advance. And the annual core PPI was up 1.2% versus the expected 1.3%. Market participants pay close attention to the PPI as a gauge for inflation at the wholesale level. It is ... (full story)