Gold prices held steady early Friday as investors remained cautious after U.S. Treasury yields hit multi-year peaks and ahead of monthly employment data, which if stronger could boost the Federal Reserve’s case for a tighter monetary policy. Spot gold was flat at $1,199.20 an ounce at the time of writing. Spot gold was on track to gain 0.6 percent for the week, which would mark its biggest weekly gain since the week of Aug. 24. U.S. gold futures rose 0.1 percent to $1,202.90 an ounce.
London aluminum held its ground on Friday as worries over an alumina shortage stoked cost inflation concerns, sending prices towards the biggest weekly gain in nearly six months. London Metal Exchange (LME) aluminium was little changed at $2,167 a tonne, down just 0.1 percent after hitting its loftiest since June at $2,267 the session before. Prices were on track for a 5.8 percent weekly rise, the biggest since April.
Oil prices rose on Friday, as traders focused on U.S. sanctions against Iran’s crude exports that are set to start next month to tighten global markets. The gains helped claw back some of the losses from the previous session due to rising U.S. inventories and after Saudi Arabia and Russia said they would raise output to at least partly make up for expected disruptions from Iran.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647