Gold futures end higher for the week, but fall for the month

Gold futures Up on Friday to end the week higher, but the prices registered a loss for the month. The outlook for gold brightened after Wednesday’s Federal Reserve meeting, with Fed Chairman Jerome Powell “sounding less hawkish than feared,” said Lukeman Otunuga, director of market analysis, at FXTM. With another jumbo rate hike in September, gold had a chance to fight back.” Still, “while warmer-than-expected US PCE inflation data could create obstacles down the road for the precious metal, the war is far from over for bulls.” The most active gold contract in December

rose $12.60, or 0.7%, to $1,781.80 an ounce. Prices based on the most active contract climbed 3.2 percent for the week and lost 1.4 percent for the month, according to Dow Jones market data.

Source link

Related Posts



Please enter your comment!
Please enter your name here

Stay Connected


Recent Stories