In some mixed economic data from the US, retail sales rose less than expected, while weekly initial claims for unemployment benefits increased. However, business inventories increased more than anticipated in April, while import and export prices showed modest increases in May.
Gold for August delivery, the most actively traded contract, jumped
Gold for August delivery scaled an intraday high of
The dollar index, which tracks the US unit against six major currencies, traded at 80.60 on Friday, down from its previous close of 80.77 late Wednesday in North American trade. The dollar scaled a high of 80.82 intraday and a low of 80.57.
The euro traded higher against the dollar at
In economic news, US retail sales rose less than expected in May.
First-time claims for US unemployment benefits unexpectedly increased in the week ended
Business inventories in the US increased by more than anticipated in April, with inventories rising 0.6% in April following a 0.4% increase in March. Economists expected inventories to match the growth seen in the previous month.
Meanwhile, import and export prices in the US showed modest increases in May, as import prices inched up 0.1% in May after falling by a revised 0.5% in April. Import prices were expected to edge up by 0.2%. Export prices ticked up 0.1% in May following a 1.0% drop in the previous month. Economists expected export prices to rise by 0.2%.
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