The gold prices They are heading this Friday to their worst week of the last seven, affected by the general strengthening of the dollar and the increase in the performance of the United States bondswhile investors digested the latest inflation figures from that country and waited for more economic data on the day.
He spot gold rose 0.37% to $1,919.4 an ounce, after touching its lowest level since July 7. The gold futures in the United States they earned 0.1%, at $1,950.20.
So far this week, the gold fell by 1.2%, while the dollar index and the 10-year US Treasury yield are headed for their fourth consecutive weekly advance.
The dynamics of gold
“Investors have been entering these levels in the lower 1,900s and have been buyers, but still, when the gold has been strengthened, they have been sellers. That has helped to limit that range,” said Philip Newman of Metals Focus.
Data on Thursday showed that the consumer prices in the United States increased moderately in July, with the smallest annual increase in the inflation underlying in nearly two years, raising hopes that the Federal Reserve is at the end of its interest rate hike cycle.
However, San Francisco Fed President Mary Daly said more progress is needed before she is comfortable with the claim that the Fed has done enough to curb inflation.
Attention now turns to producer prices and US consumer confidence, due to be released later in the day.
In others precious metals, spot silver rose 0.1% to $22.71 an ounce and platinum added 0.8% to $914.12, though both were heading for their fourth straight weekly loss. Palladium was up 2% at $1,312.52, seeking its best week since mid-June.
Source: Ambito
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