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Gold is Heading For Its Fourth Weekly Decline Due to Concern Ahead of US Inflation Data

Adel 10 December, 2021 2:26 pm Commodities, Forex Market, Global Stock Market, Market Update

Gold prices rose on Friday, but are heading for a fourth consecutive weekly decline, as investors stay away from big bets ahead of inflation data in the United States that may prompt the Federal Reserve to reduce its bond purchases at a faster pace.

Spot gold rose 0.2 percent to $1,778.13 an ounce. And US gold futures rose 0.2 percent to $ 1779.30.

The prices of the yellow metal fell 0.4 percent during the past days, with investors being cautious ahead of the report on the consumer price index in the United States, due to be released, and the meeting of the Federal Reserve next week.

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