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On Friday, gold surged because market sentiment on the US currency turned to be vulnerable ahead of highly-anticipated data on American inflation due later in the day.
Gold futures jumped 0.20% in New York being worth $1,299.05 a troy ounce, which is off a two-and-a-half week maximum of $1,300.73 reached overnight.
The US currency was boosted after on Thursday the US Department of Labor informed that the previous week initial jobless claims sank more than anticipated to 243,000.
A separate report disclosed that in September producer prices soared 0.4%, which is in line with hopes.
Core producer, excluding food and energy also grew 0.4%, confounding hopes for a 0.2% jump.
The data emerged just a day after the minutes of the Fed’s September policy gathering unveiled that policymakers were still split on inflation.
The greenback weakened ahead of the long-awaited American consumer price inflation data expected to be published later Friday.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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