WASHINGTON (dpa-AFX) - Gold futures settled slightly up on Friday as the dollar turned a bit weak.
Inflation and interest rate worries persist after data showed U.S. initial jobless claims fell to their lowest level since February, raising worries about sticky inflation and interest rates.
While the claims figures didn't change analysts' view for the Fed to keep policy steady at its meeting later this month, CME Group's FedWatch Tool currently indicates a 43.4% chance of another rate hike in November.
The dollar index, which fell to a low of 104.66 around mid morning, recovered to 104.98, but was still down below the unchanged line.
Gold futures for December settled at $1,942.70 an ounce, up $0.20 from the previous close.
Silver futures for December ended down $0.066 at $23.174 an ounce, while Copper futures for December ended lower by $0.0455 at $3.7165 per pound.
Next week will see the release of key reports on consumer and producer inflation as well as reports on retail sales, industrial production and consumer sentiment.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX