Gold prices end week with three-day rise
2023.06.02 14:25
Gold prices end week with three-day rise
By Tiffany Smith
Budrigannews.com – The U.S. obligation roof bargain is done however gold isn’t exactly dead yet, as some had been hypothesizing.
For the first time in three days, yellow metal futures settled down on Friday. In any case, the drop couldn’t wipe acquires north of three earlier days, leaving gold in the positive for the week.
The ended the day at $1,969.60 an ounce on the Comex in New York, down $25.90, or 1.3 percent. In the previous session, the benchmark for gold futures reached a two-week high of $2,000.65. For the week, Comex’s front-month gold agreement posted an arrival of 1.3%.
As futures trading came to an end, the, which tracks actual bullion trades and is followed by some traders more closely than futures, was at $1,953.19 at 13:30 ET (17:30 GMT), down $24.33 or 1.2 percent. On Friday, spot gold reached a one-week high of $1,983.44 before reversing.
Gold had a positive week regardless of the ascending briefly time in three meetings as forex brokers responded to the Senate section for the obligation roof bargain that main requirements President Joe Biden’s mark straightaway.
Economists were divided on whether policymakers at the would raise interest rates once more when they meet on June 14 because the U.S. for May also performed better than expected despite rising unemployment and slowing wage growth.
