decreased Gold prices today, Friday, as they tend to record a weekly decline, as Treasury yields riseWhile investors are awaiting monthly inflation data in the United States, seeking indications of the future of the Federal Reserve’s monetary policy.
And gold fell in spot transactions 0.2% to $ 1844.78 an ounce, while US gold futures fell 0.3% to $ 1848.10, according to “Archyde.com”.
And US 10-year Treasury yields increased, hurting demand for non-yielding gold.
Market participants are eagerly awaiting US CPI data expected later today to ensure that decades of high inflation peaked in March.
Gold prices fell regarding 0.3% this week.
Stephen Innes, managing partner at SBI Asset Management, said that a strong CPI reading might signal the Federal Reserve’s direction to tighten further and make the price of the yellow metal test the $1,825 level and push it down to 1,800. dollar.
The Federal Reserve is expected to raise its key interest rate by 50 basis points in June and July, with increased chances of a similar move in September, according to a Archyde.com poll of economists who do not expect interest rate hikes to stop until next year.
As for other precious metals, silver fell in spot transactions 0.1% to $21.63 an ounce, and platinum fell 0.6% to $966.13, while palladium rose 0.7% to $1938.01.
