Gold inched higher Friday, set for a weekly gain, following the minutes of the Federal Reserve’s last meeting indicated policymakers were not rushing to raise interest rates.
Although the Fed were prepared to increase rates, they were worried a global economic slowdown might affect the overall US economic outlook.
Spot gold settled at $1,144.20 an ounce, up 0.5%. The metal is up 0.6% for the week following it touched an almost two-week peak earlier this week.
Gold was choppy after the US central bank’s minutes of the meeting as it did not clearly indicate “whether or not the Fed is poised to raise interest rates this year,” according to analysts at ScotiaMocatta.
Meanwhile, silver was set for a 3% advance, platinum on course for a nearly 6% rise, and palladium for fifth consecutive gain.
The material has been provided by InstaForex Company – www.instaforex.com
Gold inched higher Friday, set for a weekly gain, following the minutes of the Federal Reserve’s last meeting indicated policymakers were not rushing to raise interest rates.
Although the Fed were prepared to increase rates, they were worried a global economic slowdown might affect the overall US economic outlook.
Spot gold settled at $1,144.20 an ounce, up 0.5%. The metal is up 0.6% for the week following it touched an almost two-week peak earlier this week.
Gold was choppy after the US central bank’s minutes of the meeting as it did not clearly indicate “whether or not the Fed is poised to raise interest rates this year,” according to analysts at ScotiaMocatta.
Meanwhile, silver was set for a 3% advance, platinum on course for a nearly 6% rise, and palladium for fifth consecutive gain.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: