Gold prices were steady on Friday but remained on track for a weekly decline, as stronger-than-expected U.S. inflation data dampened expectations for interest rate cuts and shifted market attention to the meeting between U.S. President Donald Trump and Russian President Vladimir Putin.
Spot gold was unchanged at $3,336.66 per ounce at 1:40 p.m. EDT (17:40 GMT), down 1.8% for the week, while U.S. gold futures ended almost flat at $3,382.6. The U.S. dollar weakened, making gold and other dollar-priced commodities more affordable for buyers using other currencies. Data released on Thursday showed U.S. producer prices in July rose at the fastest pace in three years. Traders now price in an 89.1% chance of a 25-basis-point Federal Reserve rate cut in September, down from about 95% before the data.
Following the release, non-yielding gold slipped 0.6%. Lukman Otunuga, senior research analyst at FXTM, warned that while prices stabilised on Friday, they could face further pressure depending on the outcome of the Trump–Putin summit in Alaska. Geopolitical uncertainty and lower interest rates typically support demand for gold.
Analysts at ANZ forecast that macroeconomic and geopolitical risks will grow in the second half of the year, bolstering gold’s safe-haven appeal. “The bullish outlook for gold remains, backed by the potential for higher tariffs, a slowing global economy, looser U.S. monetary policy, and sustained dollar weakness,” they said.
In other precious metals, spot silver dipped 0.1% to $37.96 per ounce, down 1% for the week. Platinum slid 1.5% to $1,336.80, and palladium dropped 2.6% to $1,116.52.
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More than 100,000 people are expected to take part in France’s “Block Everything” movement on 10 September, broadcaster France Info reported on Thursday. Energy, transport, and defence sectors are likely to be the most affected.
The death toll from Sunday’s powerful earthquake in eastern Afghanistan has risen above 2,200, with search and rescue operations ongoing. Local officials warn that many people remain trapped under rubble, and the number of fatalities is likely to climb further.
Colton Herta, nine-time IndyCar race winner, is set to compete in Formula Two next year while also taking on a test driver role for Cadillac.
The Federal Aviation Administration (FAA) has announced plans to propose updates to the certification process for new commercial aircraft, according to a notice released by the Trump administration on Thursday.
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Thailand’s royal authority has blocked a move by acting Prime Minister Phumtham Wechayachai to dissolve parliament and call snap elections, citing legal concerns over his authority to submit such a request, local media reported on Wednesday.
More than 100,000 people are expected to take part in France’s “Block Everything” movement on 10 September, broadcaster France Info reported on Thursday. Energy, transport, and defence sectors are likely to be the most affected.
The death toll from Sunday’s powerful earthquake in eastern Afghanistan has risen above 2,200, with search and rescue operations ongoing. Local officials warn that many people remain trapped under rubble, and the number of fatalities is likely to climb further.
Colton Herta, nine-time IndyCar race winner, is set to compete in Formula Two next year while also taking on a test driver role for Cadillac.
The Federal Aviation Administration (FAA) has announced plans to propose updates to the certification process for new commercial aircraft, according to a notice released by the Trump administration on Thursday.
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