Gold skitters lower early Friday as investors watch for the latest reading on inflation from the world's No. 1 economy, and eyes conflict in Eastern Europe.
Gold futures were skittering lower early Friday as investors watched for the latest reading on inflation from the world’s No. 1 economy, a day after bullion touched the highest intraday levels since September 2020, as Russia commenced a long-feared invasion into Ukraine.
April gold GCJ22 GC00 was trading $19.90, or 1%, lower at $1,906.40 an ounce, following a 0.8% gain for bullion on Thursday. The metal had touched on intraday high on that session at $1,976.50 — the highest for a most-active contract since September 2020, according to Dow Jones Market Data. Investors are awaiting U.S. data, with January’s personal-consumption expenditures index, the Federal Reserve’s preferred measure of pricing pressures, due at 8:30 a.m. ET.
On Friday, Russian forces closed in the capital of Kyiv and Ukranian President Volodymyr Zelensky vowed not to surrender the city, which was coming under fire from Moscow.
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