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Precious metals: gold is struggling to find momentum on Friday

03/11/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Gold struggled to find momentum at the end of this week. Investors are refraining from making major bets ahead of the October report on non-agricultural jobs in the United States, which could give more clues about the trajectory of Federal Reserve interest rates

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U.S. gold futures were little changed at $1,994.30 and spot gold was nearly stable at $1,986.72 per ounce at 0304 GMT. After escalating tensions in the Middle East spurred demand for refuge, prices surpassed the key level of $2,000 per ounce last week. The ingot was ready to break a three-week streak of gains, having declined by nearly 1% for the week so far

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In addition, cash held steady at $22.74 per ounce, platinum rose 0.4% to $922.87, and palladium rose 1.6% to $1,116.57.

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