Gold high, poised to end third week with gains

Editor: Gina Lee

investing. com – Gold rose in Asia on Friday and is poised to end the third consecutive week higher. While the decline in US Treasury yields also underpins the safe-haven gold, mostly gold is on the opposite side. dollar has experienced an increase. But it fell from three-month highs.

Gold futures processes rose 0.14% to $1,802.75. Its increase to date this week is 0.8%.

European Central Bank (ECB), in its 18-month review published Thursday, set the new inflation target at 2%. The bank also added that it will show tolerance for exceeding the goal.

The ECB’s approach did not match the Fed’s. published on Wednesday According to the minutes of the June meeting The Fed pointed to its preparations to reduce asset purchases.

However, some investors did not expect a severe “reduction frenzy” as experienced in global markets in 2013. However, the Fed is expected to discuss reducing asset purchases again at its annual Jackson Hole meeting in August.

Investors also tried to digest data from China. PPI grew 8.8% year-on-year, down from the 9% growth rate seen in May.

The information is also determined by the CPI in June. annual grew by 1.1%, below the expected and month to month showed a larger-than-expected shrinkage of 0.4%.

Amid other precious metals, silver fell 0.1%, palladium fell 0.4% and platinum rose 0.1%.

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