Gold futures trade slightly higher Friday morning, attempting to claw back from the lowest finish for the commodity in more than six weeks, and end the week...
Gold futures were inching higher Friday in an attempt to claw back from the lowest finish for the commodity in more than six weeks and end the week virtually unchanged.
Bullion has been under pressure since the Federal Reserve on Wednesday signaled its intent to “soon” taper its bond purchases and raise interest rates by late next year, which could dim appetite for bullion if investors shift to assets that offer yields. The central bank’s projections of interest-rate increases also pointed to rate increases as early as 2022, which could also dent demand for precious metals.Analysts said that absent a near-term catalyst, gold may be more influenced by U.S.
The dollar was up 0.1% on the week and down 0.2% on Friday, as measured by the ICE U.S. Dollar Index DXY, -0.17%, a measure of the buck against a half-dozen currencies.
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