Gold Forecasted to End Week Below $1,300

Gold prices are higher Friday morning with investors seeking the safe-haven investment amid sluggish global equities and concerns about Ukraine .

Gold futures for June are up USD6.00 or 0.47% at USD1,293.70 an ounce.

However, a slightly stronger greenback on the back of Thursday’s positive jobless claims report is limiting the yellow metal’s gains.

On Thursday, gold futures ended marginally down at USD1,287.70 an ounce, extending losses to a third straight session.

Silver futures for July are up USD0.135 or 0.71% at USD19.273 an ounce.

Meanwhile, copper is up USD0.009 or 0.3% at USD3.072 per pound.

Investors will be looking ahead to the US Commerce Department’s data on wholesale inventories for March, due at 10 am ET . Economists expect wholesale inventories to have risen by 0.5% month-over-month.

via Kitco

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza