|
Gold falls to more than 1-month low
Gold prices fell on Friday, and hit a 5-week low as the US dollar rose against most currencies.
Results from the University of Michigan's Survey of Consumers, showed that the index rose to 71 points in August from 70.3 in July, slightly lower than forecasts of 71.9 points
The US Federal Reserve is awaiting more signs of the rising inflation rate and the economic recovery to start reducing size of its bond-buying program.
US President Joe Biden criticized the wealthy due to what he described as a massive increase in their wealth of up to $1.8 trillion, which he considers unfair.
The dollar index rose against a basket of major currencies by 0.3% to 93.2 points as of 18:27 GMT, after hitting a high of 93.2 points and a low of 92.7 points.
As of 18:46 GMT, gold spot prices fell 0.3% to $1,752 an ounce, after falling to the lowest since August 10 at $1,751.
Silver falls over 1.5% on dollar strength
Silver prices fell on Friday, as the US dollar rose against most currencies, which weighs down on the prices of most commodities and metals.
MoreOil heads for fourth straight weekly gain
Oil prices continued to fall as the US market opened on Friday, deepening losses for the second day and gave up a 6-week high on profit-taking, as fears over production delay in the Gulf of Mexico region eased, but remain on the cusp of the fourth straight weekly gain thanks to demand hopes in the US.
MoreUS stocks fall amid doubts over Fed's next move
US stock indices fell in early trading on Friday, amid doubts about the Fed's next move after the release of mixed data.
More