Gold futures are trading flat to end the week amid political uncertainty in the US over the Republican Party’s healthcare bill. Gold prices are set to record their second consecutive weekly gain thanks to a weakening greenback and high tensions in Washington.
April gold futures rose $0.70, or 0.06%, to $1,247.90 per ounce at 17:03 GMT on Friday. Gold is poised to post a second straight weekly gain of 1.3%.
Silver is rallying to finish the trading week. May silver futures jumped $0.15, or 0.86%, to $17.74 an ounce. Silver is on track to advance 1.3% for the week.
Gold prices are being supported by a sliding US dollar as it has fallen to a
The yellow metal is also benefiting from the market’s concerns about US President Donald Trump being able to put forward
Experts warn that if Trump cannot pass a healthcare bill then investors could lose faith that his administration can initiate tax reforms, cuts, and investments.
Precious metals are being impacted by recent comments by Federal Reserve officials that they could raise interest rates more than three times year. Last week, the US central bank voted in favor of hiking rates for the second time in three months. Charles Evans, James Bullard, and William Dudley are scheduled to deliver speeches on Friday to provide economic outlooks and commentary on rates.
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