Gold inches up with American inflation data in focus

Gold inches up with American inflation data in focus

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.


Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera