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PRECIOUS-Gold range-bound ahead of U.S. inflation data, ECB meeting


China May factory gate prices rise at fastest in over 12 yrs
Too sharp a rise in inflation rate could pressure gold - analyst (Adds comment, updates prices)
June 9 (Reuters) - Gold held in a tight range below the $1,900 an ounce level on Wednesday as investors looked to U.S. inflation data and a European Central Bank meeting for clues on monetary policy and the future of economic support measures.
Spot gold was down 0.2% at $1,889.84 per ounce by 1135 GMT, while U.S. gold futures slipped 0.1% to $1,892.10.
“There’s a great deal of uncertainty about the next move in gold prices,” Michael Hewson, chief market analyst at CMC Markets said, adding that given the direction of bond yields, gold should have moved much higher. ....

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