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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Transit flows through Central Asian countries have increased by 70% between 2020 and 2024, according to the Eurasian Development Bank’s Transport Projects Observatory.
More than 200 electric buses from China have arrived in Tashkent as part of Uzbekistan’s plan to modernise its public transport system and cut carbon emissions.
U.S. Defense Secretary Pete Hegseth warned Moscow on Wednesday that the United States and its allies would "impose costs on Russia for its continued aggression" if the war in Ukraine does not come to an end.
Kenya's veteran opposition leader Raila Odinga, who was imprisoned multiple times while fighting one-party autocracy and ran five times unsuccessfully for president, died aged 80 on Wednesday in India.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
U.S. Defense Secretary Pete Hegseth warned Moscow on Wednesday that the United States and its allies would "impose costs on Russia for its continued aggression" if the war in Ukraine does not come to an end.
Kenya's veteran opposition leader Raila Odinga, who was imprisoned multiple times while fighting one-party autocracy and ran five times unsuccessfully for president, died aged 80 on Wednesday in India.
Pakistan and the Afghan Taliban administration have agreed to a temporary ceasefire for 48 hours starting 6:00 p.m. Pakistan local time (1300 GMT) on Wednesday, Islamabad said, after fresh clashes erupted between the neighbours.
Trade tensions between the United States and China are once again flaring up, as President Donald Trump has signalled that he may consider ending certain trade relations with Beijing.
The insolvency-related fraud trial of fallen Austrian property tycoon Rene Benko entered its second day on Wednesday, with a ruling expected in the afternoon in the first case connected to the collapse of his Signa property empire.
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