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Gold faces weekly gain on potential pause in Fed rate hike
Gold faces weekly gain on potential pause in Fed rate hike
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency into the economic state of the world's largest economy.
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency into the economic state of the world's largest economy.
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency into the economic state of the world's largest economy. 
