Gold prices soared Friday after May’s inflation data came in hot, shattering hopes that high living costs in the U.S. could shrink as the Federal Reserve works to tighten financial conditions. Gold to ship in August
Rose 1.2% on Friday, adding $ 22.70, settling for $ 1875.50 an ounce on Comex. “Big sale in the U.S. stock market after reading the hottest U.S. consumer price index for more than 40 years has frightened bullies on the stock market and led to demand for a safe haven for the precious metal,” said Jim Waikoff, a senior analyst at Kitco.com. To MarketWatch. The most active gold contract
Increased 1.4% per week, according to FactSet data.