Gold falls as investors lock in gains
Gold prices fell today, Friday, after rising to the highest level in more than two months, amid investor profit-taking and expectations that the US interest rates will not be raised in the near future. The spot gold price declined by 0.6% to reach $4,324.39 per ounce, while US futures contracts also dropped nearly 1% to $4,379.20. The decline came after data showing lower inflation and changes in the US labor market, which reduced the likelihood of a rate hike in September from 55% to 33%. Other precious metals also saw declines, and they continued to face weekly losses.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)