Gold bars
Gold prices declined on Friday as Brent crude climbed above $100 a barrel, fueling concerns over mounting inflationary pressures and reinforcing market expectations for a US interest rate hike later this year. 
Investors are now focused on next week’s Federal Reserve meeting, where policymakers are widely expected to leave interest rates unchanged. However, markets are pricing in an 81% probability of a rate hike in September, according to the CME FedWatch Tool.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, was little changed at 101.41, but remained on track for a 0.64% weekly gain.
Gold and Silver Futures Prices
Metal
Price ($/oz)
Change ($)
Change (%)
Gold (August futures)
4,029.00
(21.20)
(0.52%)
Spot gold
4,025.65
(21.50)
(0.53%)
Silver (September futures)
57.63
(0.424)
(0.75%)
Spot silver
57.44
(0.233)
(0.40%)
Spot platinum
1,583.39
(16.86)
(0.94%)
Spot palladium
1,232.70
(24.15)
(1.92%)
Prices as of 8:20 a.m.Makkah time.
Gold bars
Gold prices declined on Friday as Brent crude climbed above $100 a barrel, fueling concerns over mounting inflationary pressures and reinforcing market expectations for a US interest rate hike later this year.
Investors are now focused on next week’s Federal Reserve meeting, where policymakers are widely expected to leave interest rates unchanged. However, markets are pricing in an 81% probability of a rate hike in September, according to the CME FedWatch Tool.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, was little changed at 101.41, but remained on track for a 0.64% weekly gain.
Gold and Silver Futures Prices
Metal
Price ($/oz)
Change ($)
Change (%)
Gold (August futures)
4,029.00
(21.20)
(0.52%)
Spot gold
4,025.65
(21.50)
(0.53%)
Silver (September futures)
57.63
(0.424)
(0.75%)
Spot silver
57.44
(0.233)
(0.40%)
Spot platinum
1,583.39
(16.86)
(0.94%)
Spot palladium
1,232.70
(24.15)
(1.92%)
Prices as of 8:20 a.m.Makkah time.
