empty
 
 

2018.04.2713:39:00UTC+00Gold Trims Weekly Losses After GDP

Gold futures rose Friday, trimming this week's losses as traders weighed a flurry of U.S. economic data.

June gold settles up 0.4% at $1,323.40/oz, improving from a 5-week low. Gold posted a weekly loss of 1.1%.

Economic growth in the U.S. continued to slow in the first quarter of 2018, according to a report released by the Commerce Department on Friday, although the pace of growth during the quarter still exceeded economist estimates.

GDP climbed by 2.3 percent in the first quarter compared to the 2.9 percent jump in the fourth quarter. Economists had expected GDP to increase by about 2.0 percent.

the University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by less than initially estimated in the month of April.

The report said the consumer sentiment index for April was upwardly revised to 98.8 from the preliminary reading of 97.8.

In economic news from overseas, the Bank of Japan kept its monetary stimulus unchanged as widely expected. They dropped their target date for 2% inflation.

Eurozone economic sentiment remained stable in April, survey data from European Commission showed Friday.

  • 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 $8000 more!
    In March we raffle $8000 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