FUNDAMENTALS
* Spot gold was flat at $1,820.08 per ounce, as of 0048 GMT. U.S. gold futures edged down 0.1% at $1,819.50.
* The safe-haven metal climbed 1.4% so far this week.
* The dollar weakened against a basket of currencies on Thursday to a two-month low, a day after data showed an expected surge in U.S. consumer prices in December.
* U.S. 10-year Treasury yields eased off two-year highs hit earlier in the week.
* Fed Governor Lael Brainard on Thursday became the latest and most senior U.S. central banker to signal that the Fed is getting ready to start raising interest rates in March.
* Gold is considered an inflationary hedge, but the metal is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion.
* Investors await major U.S. economic data such as retail sales, industrial production and Michigan sentiment expected later in the day.
* U.S. producer price inflation slowed in December, while the number of Americans filing new claims for unemployment benefits increased to an eight-week high in the first week of January.
* Spot silver shed 0.2% to $23.03 an ounce, platinum was up 0.1% to $970.77, and palladium 0.4% to $1,881.12.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price