Gold

Gold heads for best week in five on Fed rate pause bets

1 year ago admin

Summary
Companies

Silver on track for best week since early April
Markets see 72% chance of Fed standing pat next week
Palladium plunges to lowest in four years

June 9 (Reuters) – Gold eased on Friday on a stronger dollar and higher yields but was set for its best week since early May after weaker jobs data bolstered bets for the Federal Reserve to hold pat on interest rates next week.

Spot gold fell 0.3% to $1,961.39 per ounce by 3:15 p.m. EDT (1915 GMT). But it is headed for a 0.7% weekly climb, helped by a 1.5% jump on Thursday after a surge in U.S.

Deep Kaushik Vakil

Thomson Reuters

Reports on global commodities and energy markets, with a special focus on oil and gas infrastructure and the power sector. Alongside agriculture, metals, and dry bulk, his coverage also spans U.S. energy regulations, extreme weather events, and the transition to renewables. Contact: 917483271897