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Gold Prices Mixed In Lackluster Trade


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Gold prices were mixed on Friday and headed for a second straight annual loss amid expectations the U.S. Federal Reserve will keep tightening interest rates.

Spot gold traded marginally higher at $1,815.97 a barrel, while U.S. gold futures were down 0.2 percent at $1,822.75.

Bullion was headed for a marginal decline this year despite rising nearly $200 from a more than two-year low hit in September on signs of slowing inflation and hopes that the U.S. central bank might slow its pace of rate hikes.

The dollar was broadly unchanged in European trade as higher-than-expected U.S. weekly jobless claims pointed to a softening of the labor market.

Overnight data showed that first-time claims for U.S. unemployment benefits rose slightly more than expected in the week ended December 24.

Traders remain focused on the outlook for China after the U.S. joined the growing list of nations requiring negative COVID tests for travelers arriving from China.

The head of the World Health Organization said the restrictions some countries were introducing in a bid to avoid importing new variants from China were “understandable” given the lack of information out of Beijing.

*Greece Oct Retail Sales Volume Down 2.2% Y/Y Vs. +1.2% In September

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