Gold steady amid expectations for ending monetary tightening cycle

Gold held steady on Friday, but was set for its second consecutive weekly gain, backed by a continued decline in the US dollar amid higher investor confidence in the Federal Reserve’ s plan to end the monetary tightening cycle.

 

Gold futures for December delivery reached $1,994.1 per ounce at 12:05 pm KSA Time, after a rise of 0.47% this week.

 

Spot gold was firm at $1,993.45 per ounce. Silver futures for December were unchanged at $23.7. Spot platinum edged up 0.34% to $921.59 per ounce.

 

The US dollar index ticked lower 0.26% to 103.65 points.

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Commodity Price

 
Gold
2,741.60
5.13 0.19%
Silver
32.79
0.16 0.48%
PLATINUM
1,002.20
11.40 1.15%
PALLADIUM
1,086.00
15.10 1.40%

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