Gold prices fell more than 1% on Friday as the dollar held near a two-week high after U.S. inflation data matched expectations, suggesting the Federal Reserve may be cautious about further interest rate cuts. Spot gold fell 1% to $2,846.96 an ounce. Bullion has fallen 3% so far this week, its sharpest weekly decline since November. U.S. gold futures fell 1.3% to $2,858.90. The dollar index is set for a weekly gain, making dollar-priced bullion more expensive for overseas buyers. "I think the main elements that are impacting the gold and silver markets are profit-taking in the liquidation...
Oil prices fell on Friday and headed for their first monthly drop since November, as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region. Uncertainty over OPEC's planned April production restart and ongoing peace talks to end the war in Ukraine also weighed on investor sentiment. More active May Brent crude fell 83 cents, or 1.12%, to settle at $73.21 a barrel. U.S. West Texas Intermediate crude was at $69.78 a barrel, down 57 cents, or 0.81%. Front-month Brent, which expires on Friday, traded at $73.28, down 76 cents. Both...
Gold rises in early Asian trade. Goldman Sachs Research forecasts that gold will continue climbing up to $3,100/oz by the end of the year, supported by higher-than-expected central bank demand, says analyst Lina Thomas in a report. Policy uncertainty and tariff fears could also result in speculators holding their net long positions in gold for longer as a haven asset, Thomas adds, though this could be short-lived if investors become more confident about the economic and political environment. Spot gold is 0.4% higher at $2,868.21/oz. Source : Dow Jones Newswires