Gold Settles Near Its Highest Level in Two Weeks

Gold prices fell slightly during trading on Friday, but they remain near their highest levels in two weeks. With it heading to close the week with the highest rise since May 21, due to signs that the Federal Reserve is not ready to scale back its asset purchases program or raise rates anytime soon.

On the other hand, the dollar, which usually trends inversely with gold, rose during trading on Friday but remained near the lowest level in one month recorded during the previous session. Investors continue to digest the Fed’s comment that the labor market still has “some ground to cover” before beginning to reduce assets when it issued its monetary policy decision on Wednesday.

At 7:30 am GMT, gold futures fell at the end of the Asian session. Gold futures are trading slightly lower by 0.04%, or $0.70, near levels of $1,830.50 an ounce. While the spot at levels of $ 1829 an ounce, on the rise for the fourth consecutive day this week.