gold prices operate this friday april 14 near one-year highssince the last US economic data bolstered hopes that the Federal Reserve be near the end of its interest rate hike cyclepropelling the ingot towards a second consecutive weekly rise.
Gold loses 0.6%to $2,029.15 per ounce, after reaching its highest value in a year and approaching the historical record in the last round.
Gold goes back because the opportunity cost of holding bullion is highgiven that Treasury yields are risingsaid Peter Fertig, analyst at Quantitative Commodity Research.
The Fed considered a pause in raising rates in March in the face of the sudden bankruptcy of two US regional lenders, although inflationary pressures were seen as more important. The collapse pushed gold above $2,000.
Gold is considered a hedge against inflation and economic uncertaintybut Rising Rates Dim Bullion’s Appealwhich do not accrue interest.
The losses of the golden metal were limited by the dollar decline to one-year lows following data that showed this week that the Consumer price index rose less than expected, boosting hopes of a Fed pause.
In other precious metals, the silver Spot was up 0.4% at $25.90 an ounce, after hitting a yearly high of $26.07 early in the session and on track for its fifth weekly high. He platinum 0.2% remained, at $1,045.29, and the palladium it was down 0.1% at $1,497.14.
Source: Ambito
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