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Gold sets for best weekly gain since November as US dollar, yields ease

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14 January: Sleep Prices on Friday were set for their best weekly gain since last November, as investors awaited economic data that could provide clarity about the US Federal Reserve’s thin policy, while weakening and treasury yield Supported boolean.

fundamentals

* Spot gold was flat at $1,820.08 per ounce as of 0048 GMT. US gold futures ended 0.1% lower at $1,819.50.

* The safe-haven metal is up 1.4% so far this week.

* The dollar weakened against a basket of currencies on Thursday to hit a two-month low, a day after data showed an expected bounce in the US consumer prices In December.

* The US 10-year Treasury yield fell from a two-year high earlier in the week.

* Fed Governor Lyle Brainard on Thursday became the latest and most senior US central banker to signal that the Fed is getting ready to begin lifting Rate of interest in March.

*Gold is considered an inflationary hedge, but the metal is highly sensitive to rising US interest rates, which increases the opportunity cost of holding non-yielding bullion.

*Investors await key US economic data such as retail sales, industrial production and Michigan sentiment expected later in the day.

*US manufacturer price inflation Slowed down in December, while the number of Americans filing new claims for unemployment benefits rose in the first week of January to an eight-week high.

* Spot silver was down 0.2% at $23.03 an ounce, platinum rose 0.1% to $970.77 and palladium rose 0.4% to $1,881.12.

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Usama Younus

Usama Younus is the owner and super admin of the site he's is an expert in news editing, tech and entertainment magazine management, and articles editing E.T.C.

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