Gold futures trade little changed Friday, on track to eke out a small weekly gain despite a rise in Treasury yields and the dollar, which are typically seen...
Gold futures were little changed early Friday, on track to eke out a weekly gain as traders brushed off typically negative factors like rising Treasury yields and a stronger U.S. dollar.
“Gold... Gold futures were little changed early Friday, on track to eke out a weekly gain as traders brushed off typically negative factors like rising Treasury yields and a stronger U.S. dollar. “Gold is trading around the same level it was yesterday, the day before that, the day before that and so on. Despite the spike in volatility seen elsewhere this week as a result of the hawkish Fed shift, gold has been unmoved,” said Craig Erlam, senior market analyst at Oanda, in a note.
The ICE U.S. Dollar Index DXY , a measure of the currency against a basket of six major rivals, was on track for a 1.2% weekly advance after trading at its highest since May 2020 earlier in the week. A stronger dollar can be a negative for commodities priced in the unit, making them more expensive to users of other currencies.
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