empty
 
 

2017.06.2308:09:00UTC+00Gold Rallies Ahead Of Fed Talk, PMI

Gold futures rose Friday morning as stock futures pointed to a weak open on Wall Street.

August gold was up $9.20 at $1,258 an ounce, moving further from a 5-week low.

The precious metal has found its footing after recent losses. Gold was sold earlier in the week amid comments from Federal Reserve officials indicating a willingness to raise interest rates four more times by the end of next year.

However, the pace of the increases may prove more gradual as incoming economic data has been pointing to low inflation and sluggish jobs growth.

A weaker dollar also helped gold prices higher.

A preliminary reading on purchasing managers' indexes on manufacturing in June is due from Markit at 9:45 a.m., along with flash services PMI for the same month.

A number of Federal Reserve speeches are also on the docket. St. Louis Fed President James Bullard talks at 11:15 a.m., Cleveland Fed President Loretta Mester at 12:45 p.m., followed at 2:15 p.m. by Fed Governor Jerome Powell's lecture.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback