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Gold prices can show maximum weekly growth in 3 weeks

Gold prices are stable on Friday.

14.Jul.17 1:07 PM
By Daria Zaytseva


Gold prices can show maximum weekly growth in 3 weeks

But prices are preparing to show the largest weekly growth for three weeks against the background of sluggish dollar dynamics on the eve of the publication of key U.S. economic data.

At 13.04 GMT, gold traded at $ 1.219.47 per troy ounce, compared with $ 1.216.95 an ounce at the close of trading on Thursday.

Gold futures for the USA with delivery in August rose by $ 1.3 to $ 1.218.7 per ounce.

Decreased for the first time in a month the number of applications for unemployment benefits in the U.S. over the past week and unexpectedly increased in June, producer prices are likely to support the Fed's intention to raise rates for the third time in 2017.

The dollar traded without sharp fluctuations to the basket of major currencies on Friday, as investors remained cautious pending the publication of data on U.S. inflation later in the session.

World stock markets reached record highs on Friday, while Asian stocks rose for the fifth consecutive session amid signals that the Fed will continue to raise interest rates gradually, as well as waiting for a good corporate reporting season.

Stocks of the world's largest gold exchange fund ETF SPDR Gold Trust fell 0.43% to 828.84 tons on Thursday, compared with 832.39 tons on Wednesday.

Silver traded at $ 15.70 an ounce compared with $ 15.66 at the close of trading on Thursday, platinum was worth $ 906.50 compared to $ 901.50, palladium at $ 860.63 versus $ 851.75.

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