Although precious metals were down slightly on Friday, it looks like they are gearing up for a fourth straight week of increases because of the lower value of the dollar, according to Reuters. Consumer spending in the US was less than expected in May, which led economists to downgrade their estimates for growth in the second quarter.
Spot gold prices slipped by
Gold futures for August delivery remain unchanged at
“Gold’s race higher started after the Fed’s comments last week, which have weighed on the dollar,” Natixis analyst
Likewise, silver prices were down
Silver futures for August delivery on the Comex in
On the base metals front, copper futures for August delivery were up, rising
Because the month is almost over and the third quarter will begin in July, Fast Markets expects portfolio book-squaring for many of the metals, both precious and base.
Brent crude oil prices experienced a slight gain on Friday, still affected by the conflict in
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