Gold bars

Gold prices rose in Friday’s trading, heading for weekly gains, supported by a weaker dollar and recent measures by the US Treasury regarding government bond buybacks.

 

The US Dollar Index, which measures the performance of the greenback against a basket of six major currencies, fell 0.15% to 98.77 points and is heading for weekly losses.

 

US Treasury Secretary Scott Bessent hinted at the possibility of further increasing the size of government bond buybacks after the Treasury announced it would double its purchases of longer-term securities next quarter to at least $4 billion per operation.

 

Data from the CME FedWatch Tool showed that traders are pricing in a 63% probability of interest rates remaining unchanged at the Federal Reserve’s upcoming meeting, compared with a 37% probability of a rate hike in September.

 

Prices of selected precious metals in futures and spot markets

Metal

Price ($/oz)

Change ($)

Change (%)

Gold (October delivery)

4,555.1

+18

+0.40%

Gold (spot)

4,531.83

+15.25

+0.35%

Silver (September delivery)

68.97

+0.86

+1.25%

Silver (spot)

68.87

+0.78

+1.15%

Platinum (spot)

1,867.58

+32.84

+1.80%

Palladium (spot)

1,346.61

+14.3

+1.05%

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Commodity Price

 
Gold
4,579.02
60.11 1.33%
Silver
69.72
1.60 2.35%
PLATINUM
1,913.20
73.60 4.00%

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