Gold heads for third straight weekly loss

Precious metals traded mixed as investors awaited US inflation and consumer sentiment data.


Gold prices were little changed on Friday, but posted their third consecutive weekly decline as markets assessed US inflation data and the outlook for monetary policy.

 

The dollar index, which tracks the US currency against a basket of six major currencies, was unchanged at 99.11.

 

Markets now price an 85.4% probability of a Federal Reserve rate hike at next week’s meeting, up from 72.4% before the inflation data, according to CME FedWatch.

 

Gold, Silver Futures

Metal

Price ($/oz)

Change ($)

Change (%)

Weekly performance

Gold (December)

4,408.90

(1.51%)

Silver (September)

64.554

+0.27

+0.42%

(2.25%)

 

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