Gold steady ahead of US data

11/08/2023 Argaam

Gold steady ahead of US data

Gold held firm on Friday, Aug. 11, near its lowest level in a month, heading for the worst performance in seven weeks.

 

Gold gained on Thursday after data showed the US consumer price index (CPI) climbed less than expected in July, raising bets that the Fed will unlikely hike interest rates again in 2023.

 

Gold prices for August delivery were steady at $1,913 per ounce. Spot gold rose 0.35% to $1,919 at 12:04 am Makkah Time, but remained nearly 1.4% lower this week.

 

Silver futures for September traded 0.18% lower at $22.78 per ounce. Spot platinum edged down 0.67% to $916.67.

 

The dollar index was unchanged at 102.49 points.

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