Source: Reuters (via feed)
Gold prices edged down on Friday and were on track for a weekly loss as the U.S. dollar rose to its highest level in nearly a month. The dollar’s strength made gold more expensive for holders of other currencies, placing pressure on bullion. Meanwhile, investors awaited key U.S. inflation data released later in the day. This data was seen as critical for gauging the Federal Reserve’s future monetary policy. Market participants expected the inflation figures to influence rate decisions, affecting gold’s appeal as a non-interest-bearing asset. Despite some volatility, gold remained sensitive to dollar movements and economic indicators. As a result, the metal’s price fluctuations reflected broader concerns about inflation and central bank actions.
Gold price movements often respond to changes in the U.S. dollar and inflation data, impacting investors and commodity markets.
