Gold heads for weekly decline as dollar firms, Fed rate outlook weighs
7 Articles
7 Articles
The Economic Times
Business TimesGold heads for weekly decline as dollar firms, Fed rate outlook weighs
On Friday, gold prices experienced a drop, marking a downward trend for the week due to a robust dollar and ongoing forecasts of elevated interest rates. Spot gold fell by 0.2%, while US gold futures saw a slight uptick. Officials from the Fed suggested that interest rate hikes might be necessary to combat inflation, although new unemployment claims remained at near historic lows, highlighting a resilient labor market.
Gold prices rise 0.24 percent to $4,273 as silver hits $63.78, but bullion faces 2 percent weekly loss
Gold prices rose on Friday, recovering some ground during early trading, although bullion remained on course for a weekly decline of more than 2 percent as a stronger U.S. dollar and expectations of further Federal Reserve interest rate increases weighed on the precious metal. Spot gold gained 0.24 percent, or $10.34, to $4,273.43 per ounce […]
Gold prices continue to be affected by the strengthening dollar. As the dollar strengthened throughout the week, gold prices moved in the opposite direction. The weekly loss for gram gold was 2 percent. Friday also started with a decline.
Spot gold below $4,300 The spot gold price rose 0.2 percent to $4,288.36 per ounce. However, the precious metal fell by approximately 2 percent over the week. US gold futures also fell by...
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