KONTAN.CO.ID - SINGAPORE. Gold prices were on track on Friday to snap a three-week winning streak as surprisingly hot U.S. inflation readings prompted traders to re-think on how swiftly and deeply the Federal Reserve could cut interest rates this year. Spot gold was up 0.1% at $2,163.92 per ounce, as of 0338 GMT, but on track to post a weekly fall of more than 0.6%, its first since mid-February. U.S. gold futures were steady at $2,168.00.
Gold's Three-Week Winning Streak Under Pressure Amid US Inflation Heat
KONTAN.CO.ID - SINGAPORE. Gold prices were on track on Friday to snap a three-week winning streak as surprisingly hot U.S. inflation readings prompted traders to re-think on how swiftly and deeply the Federal Reserve could cut interest rates this year. Spot gold was up 0.1% at $2,163.92 per ounce, as of 0338 GMT, but on track to post a weekly fall of more than 0.6%, its first since mid-February. U.S. gold futures were steady at $2,168.00.