Oddbean

Gold rises as yields slip after US data lifts rate-cut hopes ========== Gold prices rose 1% on Friday as US Treasury yields fell on optimism for an interest rate cut by the Federal Reserve in September after data showed US prices rose modestly in June; Spot gold rose 0.8% to $2,382.98 per ounce by 1741 GMT, after hitting its lowest since July 9 on Thursday; US gold futures for August delivery settled 1.2% higher at $2,381; Fed policymakers on Friday got fresh evidence of progress on their battle against inflation, fueling expectations they will use their meeting next week to signal interest rate cuts starting in September; Physical demand in India, the second-largest consumer, received a boost as the country slashed import duties on gold and silver earlier this week; Gold premiums in India jumped to their highest level in a decade this week as well; Spot silver fell 0.6% to $27.80 per ounce; Platinum shed 0.2% at $930.86, while palladium lost 1.1% at $896.50; Silver, platinum, and palladium were headed for their third straight weekly fall. #Gold #UsTreasuryYields #FederalReserve #InterestRateCut #Inflation #India #Silver #Platinum #Palladium https://www.brecorder.com/news/40314678/gold-rises-as-yields-slip-after-us-data-lifts-rate-cut-hopes