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Gold eases as strong US data lifts dollar; inflation data awaited
Gold edged lower on Friday after stronger-than-expected U.S. economic data cast doubt on the Federal Reserve’s rate cut outlook, bolstering the dollar ahead of a key U.S. inflation report due later in the day. Spot gold declined 0.2% to $3,741.21 per ounce as of 0147 GMT, though the metal was up 1.6% so far this week. U.S. gold futures for December delivery were unchanged at $3,771.30. The U.S. dollar index hovered near a three-week high, making greenback-priced bullion more expensive for overseas buyers. “The return to form of the dollar stands as a potential obstacle between gold and its aspirations for the ... (full story)
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