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[size=35][size=35]Gold is heading for the best week since March[/size]
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11-11 2022 | 01:36
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Alsumaria News - Economy
And gold fell in spot transactions 0.2 percent to $ 1751.29 an ounce, by 0240 GMT. But prices rose 4.2 percent during the week.
US gold futures fell 0.1 percent to $1,752.80.
The dollar index has stabilized after falling on Thursday, but it is heading for the biggest weekly decline since March 2020. A weak dollar makes gold more attractive to buyers abroad.
US consumer prices rose at a less-than-expected rate in October, indicating slowing inflation, raising hopes that the US central bank will start paring its massive interest rate increases.
"The weaker-than-expected CPI reading supports a slowdown in the rate of hikes at the Federal Reserve's December meeting, which could lead to a resumption of the dollar's downward trend, allowing An opportunity for gold to make a moderate recovery."
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Economie
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11-11 2022 | 01:36
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220 views
Alsumaria News - Economy
Gold prices fell today, Friday, but are heading for the largest weekly rise in more than eight months, as US data indicating slowing inflation boosted hopes that the Federal Reserve (the US Central Bank) will slow the pace of sharp interest rate hikes.
And gold fell in spot transactions 0.2 percent to $ 1751.29 an ounce, by 0240 GMT. But prices rose 4.2 percent during the week.
US gold futures fell 0.1 percent to $1,752.80.
The dollar index has stabilized after falling on Thursday, but it is heading for the biggest weekly decline since March 2020. A weak dollar makes gold more attractive to buyers abroad.
US consumer prices rose at a less-than-expected rate in October, indicating slowing inflation, raising hopes that the US central bank will start paring its massive interest rate increases.
"The weaker-than-expected CPI reading supports a slowdown in the rate of hikes at the Federal Reserve's December meeting, which could lead to a resumption of the dollar's downward trend, allowing An opportunity for gold to make a moderate recovery."
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