Gold prices ended lower Friday as weak U.S. consumer spending and inflation data did little to alter expectations for a third interest rate increase by the Federal Reserve this year.
Gold futures for December delivery settled down 0.41% at $1,283.47 on the Comex division of the New York Mercantile Exchange, after falling as low as $1,278.20 earlier.
Friday’s losses meant that the precious metal ended the week down 0.98%, helping gold post a monthly loss of 2.83%, its largest monthly decline so far this year as the dollar strengthened.
Elsewhere in precious metals trading, silver was at $16.68 a troy ounce late Friday, while platinum settled at $915.30. Palladium added on 0.82% to $935.50 a troy ounce.
What to expect this week:
Monday:
Holiday in China
11:30 UK - Manufacturing PMI
16:45 USA - Manufacturing PMI
21:00 - Robert Kaplan's of FOMC speech
Tuesday:
Holiday in Germany, China and South Korea.
04:30 Australia - Building permits
06:30 Australia -RBA interest Rate
11:30 UK - Construction PMI
Wednesday:
Holiday in China and South Korea
11:30 - UK - Services PMI
15:15 USA - ADP Non Farm Payrolls
16:45 USA - Services PMI
20:15 - Europe - Speech by Mario Draghi
Thursday:
Holiday in China and South Korea
03:30 Australia - Retail Sales
03:30 Australia - Trade Balance
14:15 Eurozone - Minutes of the European Central Bank meeting
15:30 US - Trade Balance
15:30 US - Jobless claims
15:30 Canada - Trade Balance
Friday:
Holiday day in China and South Korea
10:30 UK - Halifax House Price Index
15:30 USA - Non-farm Payrolls
15:30 USA - Unemployment rate
15:30 Canada - Unemployment Rate
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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