WASHINGTON (dpa-AFX) - Gold futures settled slightly higher on Friday as the dollar turned weak and bond yields dropped.
The dollar index, which climbed to 103.68 in early New York session after having struggled through the Asian and European sessions, eased to 103.31 later on in the day, recording a loss of about 0.25%.
Gold futures for December ended higher by $1.30 at $1,916.50 an ounce, after moving in a tight range.
Silver futures for September ended up $0.018 at $22.733 an ounce, while Copper futures for September settled at $3.7060 per pound, gaining $0.0145.
China's property developer Evergrande filed for bankruptcy protection in a U.S. court, raising concerns about ripple effects.
A liquidity crisis at one of China's top asset managers Zhongzhi Enterprise Group has raised worries of a contagion risk to the financial sector.
'Gold traders will closely watch the annual Jackson Hole Symposium and how aggressive China becomes with providing support to the deepening property crisis,' says Edward Moya, Senior Market Analyst at OANDA. 'The global bond market selloff has sent gold prices sharply lower over the past month but that could stabilize if we get a dovish Fed Chair Powell and as long as China doesn't disappoint with the next wave of stimulus.'
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