Friday, October 11, 2024
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Gold is heading for slight weekly losses

Gold is heading for slight weekly losses

Update prices

He went up gold In spot transactions, it rose 0.6 percent to $2,644.16 per ounce, by 0514 GMT, but it fell by about 0.3 percent during the week. Prices reached an all-time high of $2,685.42 last month.

US gold futures rose 0.8 percent to $2,661.40.

The dollar index fell from a two-month high, making the yellow metal more attractive to holders of other currencies.

Data published yesterday, Thursday, showed that Consumer prices In the United States, it rose slightly more than expected in September, while it rose Unemployment claims To 258 thousand requests in the week ending October 5th, compared to estimates of an increase to 230 thousand requests.

Markets are currently awaiting data Producer price index It is scheduled to be released at 1230 GMT.

According to CME’s Fed Watch tool, markets currently expect 84.4 percent to cut interest rates by 25 basis points in November, compared to expectations of 76 percent before the data, along with a 15.6 percent probability of the US central bank keeping interest rates unchanged. .

And lead prices Interest Low prices reduce the opportunity cost of owning bullion that does not generate returns.

In the Middle East, the Lebanese Ministry of Health said that Israeli strikes on central Beirut on Thursday evening killed 22 people.

In terms of other metals, it rose Silver In spot transactions, it rose 0.3 percent to $31.28 per ounce Platinum One percent to $976.55. The two metals are heading to record weekly losses.

And rose Palladium One percent to $1,080.27, and is on track to record weekly gains of seven percent.



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