WASHINGTON (dpa-AFX) - Gold futures settled roughly flat on Friday after prices moved in a tight range, as the dollar edged higher, recovering from recent losses.
The dollar index, which dropped to 99.58 in the Asian session, recovered to 100.02, recording a gain of about 0.25%.
Gold futures for August settled at $1,964.40 an ounce, up $0.60 from the previous close, after swinging between $1,954,70 and $1,967.80. Gold futures gained about 1.7% in the week.
Silver futures for September ended up $0.245 at $25.194 an ounce, while Copper futures for September ended lower by $0.0070 at $3.9330 per pound.
In U.S. economic news, data released by the Labor Department showed import prices dipped by 0.2% in June after falling by a revised 0.4% in May. Economists had expected import prices to edge down by 0.1% compared to the 0.6% decrease originally reported for the previous month.
Meanwhile, the report said export prices slumped by 0.9% in June after tumbling by 1.9% in May. Export prices were expected to slip by 0.2%.
A separate report released by the University of Michigan showed consumer sentiment has improved by much more than anticipated in the month of July. The report showed the consumer sentiment index soared to 72.6 in July from 64.4 in June. Economists had expected the index to tick up to 65.5.
With the much bigger than expected surge, the consumer sentiment index reached its highest level since hitting 72.8 in September 2021.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX