Investing.com UK on Nostr: Gold prices edge higher on weak US data; PCE inflation awaited ========== Gold prices ...
Gold prices edge higher on weak US data; PCE inflation awaited
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Gold prices rose in Asian trade on Friday as signs of a cooling U.S. economy fed some demand for the yellow metal. The yellow metal was also set for steep weekly losses after tumbling from near record highs over the past five sessions. Spot prices were set to lose 2% this week, as they extended a decline from record highs hit earlier in April. A key point of pressure on gold was lower risk premium over unrest in the Middle East. Gold's biggest source of losses was decreasing bets that the Fed will cut interest rates. Other precious metals advanced on Friday, but were also nursing steep losses for the week. Copper prices capitalized on a weaker dollar and rebounded to two-year highs. Three-month copper futures on the London Metal Exchange rose 0.8% to $9,983.50 a ton, while one-month copper futures rose 0.7% to $4.5745 a pound.
#GoldPrices #UsEconomy #PceInflation #PreciousMetals #CopperPrices
https://uk.investing.com/news/commodities-news/gold-prices-edge-higher-on-weak-us-data-pce-inflation-awaited-3456561
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Gold prices rose in Asian trade on Friday as signs of a cooling U.S. economy fed some demand for the yellow metal. The yellow metal was also set for steep weekly losses after tumbling from near record highs over the past five sessions. Spot prices were set to lose 2% this week, as they extended a decline from record highs hit earlier in April. A key point of pressure on gold was lower risk premium over unrest in the Middle East. Gold's biggest source of losses was decreasing bets that the Fed will cut interest rates. Other precious metals advanced on Friday, but were also nursing steep losses for the week. Copper prices capitalized on a weaker dollar and rebounded to two-year highs. Three-month copper futures on the London Metal Exchange rose 0.8% to $9,983.50 a ton, while one-month copper futures rose 0.7% to $4.5745 a pound.
#GoldPrices #UsEconomy #PceInflation #PreciousMetals #CopperPrices
https://uk.investing.com/news/commodities-news/gold-prices-edge-higher-on-weak-us-data-pce-inflation-awaited-3456561