Gold edged lower on Friday after stronger-than-expected U.S. economic data reduced expectations for further easing this year, bolstering the dollar ahead of a key inflation report due later in the day. Spot gold was down 0.1% at $3,745.67 per ounce, as of 0409 GMT, but up 1.6% so far this week. U.S. gold futures for December delivery were steady at $3,774.80. The U.S. dollar index, opens new tab hovered near a three-week high, and was headed for a weekly gain, making greenback-priced bullion more expensive for overseas buyers. "The dollar's return to form stands as a potential obstacle...
The USD/CHF pair demonstrates strength near its over two-week high around 0.8000 during Friday's late Asian session, posted on Thursday. The Swiss Franc pair gained sharply on Thursday as the US Dollar (USD) extended its upside, following the release of the upbeat revised United States (US) Q2 Gross Domestic Product (GDP) and a decline in Initial Jobless Claims for the week ending September 20. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, holds onto gains near the four-week high around 98.60. On Thursday, revised Q2 GDP data showed that the...
Silver slipped below $45 per ounce on Friday, easing from 14-year highs as the dollar strengthened following upbeat US data that tempered bets for deeper Federal Reserve rate cuts. Thursday's reports showed weekly jobless claims fell to 218K, highlighting labor market resilience, while second-quarter GDP growth was revised sharply higher to an annualized 3.8%, the fastest in nearly two years. Markets still expect a quarter-point Fed cut in October, though easing priced in for the year has narrowed to 39 basis points from about 43 earlier this week. Despite the pullback, silver remains up...