Free Trial

Precious Metals Track US Dollar, Subdued Friday For Crude Futures

COMMODITIES
  • Precious metals lost ground early Friday as the US Dollar appreciated with US yields marching higher. The sell-off was short-lived as the US Dollar momentum faded. Spot gold rebounded and trades broadly flat on the session as we approach the close. Silver had been the real laggard during European hours, however, recovered half of the day's range to post ~1% losses.
  • Subdued price action in oil markets to finish the week. WTI futures consolidated Thursday's gains around the $66 mark, exhibiting marginal losses for the week (~1%) despite the volatile price action.
  • Bitcoin caps off a stellar week, gaining around 15% to trade just below $58,000, in close proximity to the all-time highs of $58,350.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.