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Precious metals: gold stabilizes at the end of the week

25/08/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Gold is heading for its best week in six years. It stabilized at the end of the week as it heads into its best week since mid-July

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U.S. gold futures lost 0.2% to $1,943.50. After rising 1.4% since the start of the week, spot gold fell 0.1% to $1,915.40 per ounce at 0958 GMT. For Edward Gardner, commodity economist at Capital Economics, “the price appreciation could be the result of opportunistic buying after falling from nearly $2,000 per ounce in July to around $1,900

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Cash fell 0.1% to $24.12 per ounce, palladium fell 0.2% to $1,237.66, and platinum rose 0.6% to $939.36. Silver and platinum are heading for their best week since July 14, and palladium is ready for a second consecutive weekly drop

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