Gold prices fell slightly on Friday as investors worried that stronger-than-expected recent US economic data could prompt the Federal Reserve to continue raising interest rates for a longer period.<\/p>\n\n\n\n
Spot gold fell 0.1 percent to $1,821.80 an ounce, by 0745 GMT. While US gold futures rose 0.2 percent to $1,831.00.<\/p>\n\n\n\n
Gold is likely to fall for the fourth week in a row and has fallen by about 1 percent in this period.<\/p>\n\n\n\n
Thursday’s data showed revised US gross domestic product increased 2.7 percent year-on-year in the previous quarter. While the number of Americans who filed for new unemployment benefits unexpectedly fell last week.<\/p>\n\n\n\n
Separately, the data showed the personal consumption expenditures price index in the fourth quarter rose 3.7 percent, revised from the previous estimate of 3.2 percent.<\/p>\n\n\n\n
Thursday’s reports are the latest in a string of data that has raised concerns about keeping interest rates at higher levels for longer.<\/p>\n\n\n\n
The dollar index was little changed, making bullion more expensive for buyers abroad.<\/p>\n\n\n\n
As for other currencies, spot silver fell 0.5 percent to $21.19 an ounce, platinum fell 0.3 percent to $944.32, and palladium fell 0.8 percent to $1438.19 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell slightly on Friday as investors worried that stronger-than-expected recent US economic data could prompt the Federal Reserve to continue raising interest rates for a longer period. Spot gold fell 0.1 percent to $1,821.80 an ounce, by 0745 GMT. While US gold futures rose 0.2 percent to $1,831.00. Gold is likely to fall …<\/p>\n","protected":false},"author":9,"featured_media":70951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6885,7770,6874,8444],"class_list":["post-80589","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-fomc-minutes","tag-gold","tag-hawkish-language"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80589"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80589\/revisions"}],"predecessor-version":[{"id":80590,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80589\/revisions\/80590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70951"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}