Gold rose slightly on Friday as the dollar retreated from its high levels, but the precious metal is still on track to record a weekly decline as investors focus on the increasingly strong US data.<\/p>\n\n\n\n
Gold rose in spot transactions 0.3 percent to $1,925.14 per ounce by 0545 GMT, but it is heading for a weekly decline of 0.7 percent, and US gold futures rose 0.4 percent to $1,949.40.<\/p>\n\n\n\n
The dollar fell 0.2 percent, but it is heading towards achieving the longest series of weekly gains in nine years, supported by a group of strong American economic data.<\/p>\n\n\n\n
Data this week showed that the US services sector gained strength in August, while unemployment claims unexpectedly fell last week to their lowest level since February.<\/p>\n\n\n\n
According to the CME Group’s FeedWatch service, market traders expect about 93 percent that the Federal Reserve will hold interest rates at its meeting on September 19-20, but they are betting on a 41 percent chance that it will raise interest rates again before 2024. .<\/p>\n\n\n\n
As for other precious metals, silver rose in spot transactions 0.6 percent to $23.09 per ounce, and platinum increased 0.4 percent to $907.04, but they are heading toward their worst weekly performance since June 23.<\/p>\n\n\n\n
Palladium rose 1 percent to $1,224.03, on its way to breaking a three-week losing streak.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold rose slightly on Friday as the dollar retreated from its high levels, but the precious metal is still on track to record a weekly decline as investors focus on the increasingly strong US data. Gold rose in spot transactions 0.3 percent to $1,925.14 per ounce by 0545 GMT, but it is heading for a …<\/p>\n","protected":false},"author":9,"featured_media":71340,"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":[6885,6874,6984,8741],"class_list":["post-89168","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-treasury-yields","tag-us-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/89168","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=89168"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/89168\/revisions"}],"predecessor-version":[{"id":89169,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/89168\/revisions\/89169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=89168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=89168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=89168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}