Gold climbs as weak US data trims Fed hike bets
Gold gained nearly 0.90% on Friday as the US dollar weakened after softer inflation data reduced expectations for a Federal Reserve rate hike.
XAUUSD
Gold posted a solid advance on Friday, rising nearly 0.90% as the US dollar lost ground across the board. The move followed a week of softer US inflation data that lowered market expectations for another Federal Reserve rate hike.
XAU/USD was trading around $4,386, still holding below the $4,400 level.
Traders viewed the weaker inflation data as reducing the odds of tighter Fed policy, which supported gold and pressured the dollar.
Source: FXStreet Forex News