Gold bars
Gold prices fell on Friday and were headed for a weekly loss, pressured by a stronger dollar and growing expectations that the Federal Reserve will keep interest rates elevated to curb inflation. 
The dollar index, which measures the US currency against a basket of six major currencies, was steady at 101.25 points but was on track for a weekly gain.
Expectations that US interest rates will remain higher for longer strengthened after Philadelphia Fed President Anna Paulson said returning inflation to 2% is a top priority, and he will support a policy path that gets us there while carefully balancing the risks to the labor market along the way.
Markets are currently pricing in a roughly 69% chance that the Fed will raise interest rates in October, according to CME Group’s FedWatch Tool.
Changes in Precious Metals Futures and Spot Prices
Metal
Price ($/oz)
Change ($)
Change (%)
Gold (October delivery)
4,257.0
(8.1)
(0.20%)
Gold (spot)
4,261.58
(13.45)
(0.30%)
Silver (December delivery)
63.795
(0.207)
(0.30%)
Silver (spot)
63.4341
(0.36)
(0.55%)
Platinum (spot)
1,745.00
(11.49)
(0.65%)
Palladium (spot)
1,252.08
(12.97)
(1.00%)
Gold bars
Gold prices fell on Friday and were headed for a weekly loss, pressured by a stronger dollar and growing expectations that the Federal Reserve will keep interest rates elevated to curb inflation.
The dollar index, which measures the US currency against a basket of six major currencies, was steady at 101.25 points but was on track for a weekly gain.
Expectations that US interest rates will remain higher for longer strengthened after Philadelphia Fed President Anna Paulson said returning inflation to 2% is a top priority, and he will support a policy path that gets us there while carefully balancing the risks to the labor market along the way.
Markets are currently pricing in a roughly 69% chance that the Fed will raise interest rates in October, according to CME Group’s FedWatch Tool.
Changes in Precious Metals Futures and Spot Prices
Metal
Price ($/oz)
Change ($)
Change (%)
Gold (October delivery)
4,257.0
(8.1)
(0.20%)
Gold (spot)
4,261.58
(13.45)
(0.30%)
Silver (December delivery)
63.795
(0.207)
(0.30%)
Silver (spot)
63.4341
(0.36)
(0.55%)
Platinum (spot)
1,745.00
(11.49)
(0.65%)
Palladium (spot)
1,252.08
(12.97)
(1.00%)
