Gold prices rose on Friday after falling by about 2% in the previous session, as a weaker dollar helped ease pressure, while investors weighed higher oil prices against Treasury bond yields and expectations that the Federal Reserve will raise interest rates next week.
At 09:59 a.m., gold rose 0.8% to $4,351.28 per ounce, while gold futures fell 0.4% to $4,391.37. XAG/USD gained 0.8% to reach $64.10 per ounce, while XPT/USD rose 1.1% to $1,801.18. The U.S. dollar index remained steady at 99.04.
Later on Friday, U.S. consumer price data due to be released is seen as the next key test for Federal Reserve expectations, as economists expect the headline consumer price index to rise 0.4% month-on-month in August and 3.4% year-on-year, while the core index is expected to increase by 0.2% compared with July.$XAU
At 09:59 a.m., gold rose 0.8% to $4,351.28 per ounce, while gold futures fell 0.4% to $4,391.37. XAG/USD gained 0.8% to reach $64.10 per ounce, while XPT/USD rose 1.1% to $1,801.18. The U.S. dollar index remained steady at 99.04.
Later on Friday, U.S. consumer price data due to be released is seen as the next key test for Federal Reserve expectations, as economists expect the headline consumer price index to rise 0.4% month-on-month in August and 3.4% year-on-year, while the core index is expected to increase by 0.2% compared with July.$XAU