Gold is nearly intact

Gold is nearly intact

On Friday, gold was nearly intact because the US currency started mildly recovering from steep losses demonstrated in the previous trading session. However, the minutes of the Fed’s latest policy gathering kept putting pressure on the US dollar.

Gold futures didn’t change, keeping to $1,291.23 a troy ounce in New York.

The evergreen buck found itself under broad selling pressure because the minutes of the Fed's latest gathering unveiled that some Fed policymakers are still paying much attention to constantly low inflation.

Besides this, the data stressed that the key US financial institution is planning to have interest rates increased very soon, hinting at a probable December rate lift.

Evaluating the greenback’s actual strength versus a trade-weighted basket of six crucial currencies, the US dollar index tacked on 0.10% reaching 93.13, which is off the previous session's one-month drop of 93.00.

As for silver futures, they rallied 0.08% being worth $17.13 a troy ounce.

 

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