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Precious metals: Gold stable in early Asian exchanges

16/06/2023
Categories: Raw materials

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Gold has remained steady as investors assess U.S. economic data and interest rate signals from the Federal Reserve

Gold remained steady in early Asian trading on Friday, buoyed by a relatively weaker dollar as investors digest a series of U.S. economic data and the Federal Reserve's “hawkish pause” on interest rate hikes. Spot gold was steady at $1,959.03. Once at 0015 GMT. U.S. gold futures were also little changed at $1,971.50

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The bullion fell to a three-month low on Thursday, but erased losses to finish higher after U.S. economic data offered some relief after a “hawkish pause” on interest rates by the Federal Reserve.

Cash rose 0.2% to $23.8924 per ounce, platinum rose 0.2% to $987.47. But both are headed for a weekly loss. Palladium fell by 0.3% to $1,396.08

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