Gold edged down after three days of gains mid-afternoon Friday as the dollar rebounded from two days of losses that followed on soft U.S. economic data that spurred hopes for faster interest-rate cuts from the Federal Reserve.
Gold for February delivery was last seen down US$0.90 to US$2,750.00 per ounce.
U.S. economic data this week showed core inflation and retail sales were softer than expected in December, reviving hopes the Federal Reserve will speed rate cuts, though the central bank is widely expected to leave rates unchanged at the Jan.29 end to the next meeting of its policy committee.
"Gold trades a tad lower after once again finding resistance around $2725 following a supportive week that saw US rate cut hopes being reignited following softer US economic data, including inflation," Saxo Bank noted.
The ICE dollar index was last seen up 0.35 points to 109.31.
Treasury yields were mixed with the U.S. two-year note last seen paying 4.272%, up 3.8 basis points, while the yield on the 10-year note was down 0.8 points to 4.609%.
Source : MT Newswires
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