Gold prices went up on Friday but are on track to record a weekly decline, as investors are awaiting new US inflation data, which is expected to offer further clues about the timing of a potential interest rate cut. Spot gold rose by 0.4% to $2,374.14 per ounce but fell by 1% over the week. Meanwhile, US gold futures jumped 0.7% to $2,371.00. As for other metals, silver held steady at $27.95 per ounce in spot trading, while platinum rose by 0.9% to $941.25, and palladium increased by 0.9% to $914.68. Data released on Thursday showed that the US economy grew at a faster-than-expected pace in the second quarter, but inflation pressures have slowed, keeping expectations for an interest rate cut in September intact. Source: Qatar News Agency
Related Posts
Japan’s GDP jumps 1.5% in Q2
Japan’s gross domestic product expanded a seasonally adjusted 1.5% on quarter in the second quarter of 2023, the Cabinet Office said in Tuesday’s preliminary report.That blew away expectations for an increase of 0.8% following the upwardly revised 0.9…
Qatar Wins IMO Council Membership
Qatar has won a Category C membership of the International Maritime Organisation (IMO) Council in the elections held during the 32nd Session of the IMO Assembly at IMO headquarters in London. and the member states lauded the capabilities of Qatar to pe…
Real Estate Trading Volume Reaches QR 1.853 Billion in May 2023
The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice during May 2023 amounted to QR 1,853,196,466.The data of the real estate analytical bulletin issued by the Ministry o…