Business · Energy & Commodities · 1 hr ago
Gold heads for a 0.7% weekly loss as markets await US inflation data
Gold was on track to lose 0.7% for the week after prices slipped on Friday.
Spot gold fell 0.1% to $4,165.12 an ounce by 18:07 GMT, while US gold futures for December rose 0.3% to $4,181.10.
Silver and palladium also fell on Friday, while platinum was little changed; all three were heading for weekly losses.
The figures cover trading in precious metals, which can respond to changes in the value of the dollar and expectations for interest rates.
Markets are waiting for US inflation data and Federal Reserve comments to get clearer signals about the direction of interest rates.
Those signals could affect gold and the dollar, but no specific market response has been reported.
Gold prices fell on Friday and were heading for a 0.7% weekly loss.
Spot gold was down 0.1% at $4,165.12 an ounce at 18:07 GMT.
US gold futures for December delivery rose 0.3% to $4,181.10 an ounce.
Markets are watching for US inflation data and comments from Federal Reserve officials for clues on interest rates.
Silver, platinum and palladium were also on track for weekly losses.
- Who
- Gold and other precious metals markets.
- What
- Gold was heading for a 0.7% weekly loss after falling on Friday.
- When
- Friday; spot prices were reported at 18:07 GMT.
- Where
- Not stated.
- Why
- Markets were awaiting US inflation data and Federal Reserve officials’ comments for clues about future interest rates and their effects on gold and the dollar.
This story does not have two clearly opposing sides.
Gold prices fell during trading and were heading for a 0.7% weekly loss.
Precious metals markets were awaiting US inflation data and comments from Federal Reserve officials.
- Gold weekly move
- Heading for a 0.7% loss
- Spot gold
- Down 0.1% at $4,165.12 an ounce
- December US gold futures
- Up 0.3% at $4,181.10 an ounce
- Silver
- Down 0.7% at $57.05 an ounce
- Palladium
- Down 1.1% at $1,113.61 an ounce