gold futures climbed Friday for a fourth straight session to end the week slightly higher. The week was quiet for precious metals prices, “mainly due to an equally uneventful week for some of the major price drivers” like the US dollar, said Caroline Bain, chief commodities economist at Capital Economics. Instead, the focus is next week as we anticipate the Federal Reserve to slow the pace of its 50 tightening cycle [basis point] hike, she said. “We believe US inflation will fall sharply in the coming months and that the Fed will begin easing policy in late 2023, which will boost all precious metals prices.” Gold for February delivery
GCG23,
Soared $9.20, or 0.5%, to $1,810.70 an ounce on the Comex and ended the week nearly 0.1% higher, according to Dow Jones Market Data.
