{"id":19889,"date":"2023-09-16T14:09:44","date_gmt":"2023-09-16T14:09:44","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/gold-prices-end-higher-to-eke-out-a-gain-for-the-week\/"},"modified":"2023-09-16T14:09:45","modified_gmt":"2023-09-16T14:09:45","slug":"gold-prices-end-higher-to-eke-out-a-gain-for-the-week","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=19889","title":{"rendered":"Gold prices end higher to eke out a gain for the week"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002509383\" role=\"document\">\n<p>Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the metal\u2019s price to a three-week low.<\/p>\n<p>This week\u2019s batch of U.S. inflation reports were seen by some as not alarming enough to force more immediate action from the Federal Reserve. <\/p>\n<div class=\"paywall\">\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for December delivery<br \/>\n        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"positive\">+0.66%<\/bg-quote><\/p>\n<p>        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.66%<\/bg-quote><br \/>\n       gained $13.40, or 0.7%, to settle at $1,946.20 per ounce, with prices for the most-active contract up 0.2% for the week, according to Dow Jones Market Data. <\/p>\n<\/li>\n<li>\n      Silver futures for December<br \/>\n        SIZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319449\/delayed\" class=\"positive\">+1.35%<\/bg-quote><br \/>\n       gained 39 cents, or 1.7%, to $23.39 per ounce, ending 0.9% higher for the week. <\/p>\n<\/li>\n<li>\n      Platinum futures for October<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"positive\">+2.15%<\/bg-quote><br \/>\n       gained $18.40, or 2%, to $929.50 per ounce, for a 3.9% rise on the week, while palladium futures for December<br \/>\n        PAZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/239302145\/delayed\" class=\"negative\">-0.30%<\/bg-quote><br \/>\n       fell by $2.10, or 0.2%, to $1,252.70 per ounce, ending 5.1% higher for the week.<\/p>\n<\/li>\n<li>\n      Copper futures for December<br \/>\n        HGZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059556\/delayed\" class=\"negative\">-0.63%<\/bg-quote><br \/>\n       declined by 0.5% at $3.80 per pound, but held onto a weekly rise of 2.3%. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Gold is \u201cstill able to trade above $1,900 despite the continuation of central bank hikes, and the expectation of those rates staying higher for longer,\u201d said Rupert Rowling, a market analyst at Kinesis Money.  That \u201cillustrates how strong the support was for the safe haven asset earlier in the year, with market confidence only creeping back into investors\u2019 approach.\u201d<\/p>\n<p>On Friday, the slight buoyancy of\u00a0gold\u00a0has \u201calso been assisted by a slight weakening in the strength of the U.S. dollar, the currency which\u00a0gold\u00a0has an inversely correlated relationship with as the metal is typically priced in dollars,\u201d he said in market comments. <\/p>\n<p>After marching to its highest level in six months, the U.S. dollar was taking a pause on Friday, which also contributed to gold\u2019s gains, analysts said. <\/p>\n<p>The ICE U.S. Dollar Index<br \/>\n        DXY<span>,<\/span><br \/>\n       a gauge of the buck\u2019s strength against a basket of rivals, was off by 0.2% at 105.245 in Friday dealings. <\/p>\n<p><strong>Also see:<\/strong> Here\u2019s what the gold-silver price ratio tells us about silver<\/p>\n<p>For the week, gold marked a modest gain as data on U.S. consumer and producer price indexes affirmed that inflation continued to re-accelerate in August, but not by a wide enough margin to alarm markets and central bankers. <\/p>\n<p>What\u2019s more, in Europe, the European Central Bank signaled that it has likely finished raising interest rates after delivering another 25-basis-point hike on Thursday to lift its deposit rate to 4%. <\/p>\n<p>The U.S. Federal Reserve next monetary policy decision will be announced on Wednesday. <\/p>\n<p>\u201cA hawkish tone emanating from next week\u2019s FOMC meeting may be the catalyst for gold to revisit sub-$1,900 domain,\u201d said Han Tan, chief market analyst at Exinity Group. \u201cHowever, should markets infer dovish clues out of the FOMC policy statement and\/or Fed Chair Jerome Powell\u2019s press conference, that could see spot gold carve out a larger gap above $1,900.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-rebound-continues-as-u-s-dollar-rally-stalls-1e0ed62a?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the metal\u2019s price to a three-week low. This week\u2019s batch of U.S. inflation reports were seen by some as not alarming enough to force more immediate action<\/p>\n","protected":false},"author":1,"featured_media":10431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-19889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices end higher to eke out a gain for the week | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=19889\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold prices end higher to eke out a gain for the week | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=19889\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-16T14:09:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-16T14:09:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/1691575050_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=19889#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=19889\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"Gold prices end higher to eke out a gain for the week\",\"datePublished\":\"2023-09-16T14:09:44+00:00\",\"dateModified\":\"2023-09-16T14:09:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=19889\"},\"wordCount\":498,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=19889#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=19889\",\"url\":\"https:\/\/microloannexus.com\/?p=19889\",\"name\":\"Gold prices end higher to eke out a gain for the week | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-09-16T14:09:44+00:00\",\"dateModified\":\"2023-09-16T14:09:45+00:00\",\"description\":\"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=19889#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=19889\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=19889#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold prices end higher to eke out a gain for the week\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold prices end higher to eke out a gain for the week | Micro Loan Nexus","description":"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=19889","og_locale":"en_US","og_type":"article","og_title":"Gold prices end higher to eke out a gain for the week | Micro Loan Nexus","og_description":"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the","og_url":"https:\/\/microloannexus.com\/?p=19889","og_site_name":"Micro Loan Nexus","article_published_time":"2023-09-16T14:09:44+00:00","article_modified_time":"2023-09-16T14:09:45+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/1691575050_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=19889#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=19889"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"Gold prices end higher to eke out a gain for the week","datePublished":"2023-09-16T14:09:44+00:00","dateModified":"2023-09-16T14:09:45+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=19889"},"wordCount":498,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=19889#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=19889","url":"https:\/\/microloannexus.com\/?p=19889","name":"Gold prices end higher to eke out a gain for the week | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-09-16T14:09:44+00:00","dateModified":"2023-09-16T14:09:45+00:00","description":"Gold futures finished higher on Friday to eke out a gain for the week, finding support from a pullback in the U.S. dollar after a recent drop in the","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=19889#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=19889"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=19889#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"Gold prices end higher to eke out a gain for the week"}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/19889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19889"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/19889\/revisions"}],"predecessor-version":[{"id":19890,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/19889\/revisions\/19890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/10431"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}