empty
 
 

2018.04.2002:36:00UTC+00Gold Prices Drop, Weighed Down by U.S. Rate Hike Expectations, Easing Global Tensions

Gold prices slipped on Friday and were on track for their first weekly drop in three as hopes of higher U.S. interest rates and easing geopolitical tensions pulled down the demand for the precious metal.

Spot gold fell 0.3 percent to $1,341.33 per ounce. The yellow metal was down 0.2 percent on the week.

U.S. gold futures lost 0.3 percent at $1,344.50 an ounce.

Market jitters over Western missile strikes in Syria that provided some support to gold earlier in the week eased, while the geopolitical outlook on the Korean Peninsula brightened as U.S. President Donald Trump said on Wednesday he hoped a summit with North Korean leader Kim Jong Un would be successful.

Investors were also relieved that no new U.S. demands on trade came out of a summit between Japanese Prime Minister Shinzo Abe and Trump.

Among other precious metals, spot silver fell 0.1 percent to $17.19, after notching more than a 2-½-month peak at $17.35 in the previous session.

Platinum dropped 0.2 percent to $930.74. It hit a more than three-week high at $953.50 in the session earlier. Palladium rose 0.6 percent at $1,031.99. It reached a 1-½-month peak of $1,057.20 on Thursday.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback