Gold settled near its lowest level in four months on Friday, as investors awaited important US inflation data later on Friday, after a group of strong data and statements in favor of monetary tightening from Federal Reserve officials increased bets on raising interest again.<\/p>\n\n\n\n
And gold settled in the spot market at $ 1907.78 an ounce by 0316 GMT, while US gold futures fell 0.1 percent, to record $ 1915.80 an ounce.<\/p>\n\n\n\n
The dollar index settled near its highest level in two weeks, which it recorded in the last session, which raises the price of gold for holders of other currencies.<\/p>\n\n\n\n
Data released during the week painted a picture of a resilient US economy, which eased some fears of an imminent recession but raised expectations that the US central bank will resume tightening monetary policy.<\/p>\n\n\n\n
The price of gold usually rises during times of economic or financial uncertainty, but higher interest rates reduce the attractiveness of the yellow metal, which does not yield a return.<\/p>\n\n\n\n
US Central Bank President Jerome Powell indicated at a meeting in Madrid on Thursday that the bank is likely to raise interest rates at least twice more until the end of the year.<\/p>\n\n\n\n
Gold is heading for its first weekly decline in three weeks, losing 3.1 percent so far.<\/p>\n\n\n\n
Spot silver rose 0.2 percent to $22.59 an ounce, while platinum rose 0.7 percent to $900.22, and palladium rose 0.8 percent to $1,239.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold settled near its lowest level in four months on Friday, as investors awaited important US inflation data later on Friday, after a group of strong data and statements in favor of monetary tightening from Federal Reserve officials increased bets on raising interest again. And gold settled in the spot market at $ 1907.78 an …<\/p>\n","protected":false},"author":9,"featured_media":61161,"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":[38,36],"tags":[8337,6885,6874,7163],"class_list":["post-85991","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-durable-goods-orders","tag-fed","tag-gold","tag-jerome-powell"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85991","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=85991"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85991\/revisions"}],"predecessor-version":[{"id":85992,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85991\/revisions\/85992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=85991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=85991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=85991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}