Industrial Production and Inflation Data

retail sales producer: A report showed U.S. industrial production fell 0.3 percent in April, dropping for the fifth consecutive month, according to Xinhua China. The worse-than- expected data followed weak retail sales and producer inflation data this week. The most active gold contract for June delivery added 0.1 U.S. dollars, or 0.01 percent, to settle at 1,225.30 dollars per ounce. The lackluster economic data is likely to delay the U.S. Federal Reserve move to increase the interest rate to keep inflation down, analysts said. In response, the U.S. dollar index fell 0.15 percent to 93.25 in midday trading, supporting the greenback-denominated gold. Originally the Fed is expected to raise rates as early as June, but now it is believed that the decision would come much later. (news.financializer.com). As reported in the news.