Ever since the Bureau of Labor Statistics (BLS) published its Consumer Price Inflation (CPI) report at the beginning of the week, gold prices have responded with a more than $40 move to the upside. And this has led the commodity to be on track for its best week of gains since 2016.
Gold futures grasped at a narrow advance Friday and headed for a weekly gain of about 3% even as the dollar index, battered in recent trading, tipped higher and stocks headed for their best week in more than a year.
April gold GCJ8, +0.09% was up $1.80, or 0.1%, to $1,357.10 an ounce. It fell modestly Thursday after a settlement at $1,358 Wednesday, marking its highest level in nearly three weeks.
Spot gold has risen 3.2% so far this week, putting it on track for its biggest weekly rise since April 2016. - Marketwatch
0 comments:
Post a Comment