Gold futures were marginally higher on Friday after falling for three straight sessions, but higher global bond yields and a stronger U.S. dollar in recent...
Gold futures were marginally higher on Friday after falling for three straight sessions, but higher global bond yields and a stronger U.S. dollar in recent days are likely to drive the yellow metal to its second weekly loss in three.
Price action Market drivers “Gold is continuing its slow slide toward $1,900 an ounce as doubts remain as to whether the Federal Reserve still has one more interest rate increase left in its current cycle, even following yesterday’s encouraging U.S. inflation data,” said Rupert Rowling, a market analyst at Kinesis Money, in emailed commentary.
The yield on the 10-year Treasury note was flat early Friday at 4.105% after rising on Thursday afternoon when San Francisco Fed President Mary Daly said the Fed had more work to do to tame inflation despite the latest data which showed consumer prices rose just 0.2% in July.
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