By Pablo Sinha and Swati Verma
Aug 14 (Reuters) - Gold prices slipped on Friday and were headed for a weekly loss as investors locked in profits a day after bullion was propelled to its highest level in more than two months on mild U.S. inflation data that weakened the case for a near-term Federal Reserve rate hike.
Spot gold was down 0.5% at $4,330.70 per ounce, as of 0714 GMT. U.S. gold futures for December delivery slid 0.7% to $4,387.40.
Bullion climbed to its highest point since June 5 on Thursday, before settling lower, setting it on track for a weekly loss.
"There is some episodic and more speculative capital that's maybe taking a bit of profit in gold, because there's not a near-term catalyst quite so potent immediately in front of us," said Ilya Spivak, head of global macro at finance content network Tastylive.
#Gold #weekly #sinha
Aug 14 (Reuters) - Gold prices slipped on Friday and were headed for a weekly loss as investors locked in profits a day after bullion was propelled to its highest level in more than two months on mild U.S. inflation data that weakened the case for a near-term Federal Reserve rate hike.
Spot gold was down 0.5% at $4,330.70 per ounce, as of 0714 GMT. U.S. gold futures for December delivery slid 0.7% to $4,387.40.
Bullion climbed to its highest point since June 5 on Thursday, before settling lower, setting it on track for a weekly loss.
"There is some episodic and more speculative capital that's maybe taking a bit of profit in gold, because there's not a near-term catalyst quite so potent immediately in front of us," said Ilya Spivak, head of global macro at finance content network Tastylive.
#Gold #weekly #sinha
3 months ago
