The dollar weakened on Friday. This happened after a week filled with economic data. The possibility of a Federal Reserve interest rate cut in September remains. Traders are closely watching the meeting between Donald Trump and Vladimir Putin regarding Ukraine. Markets are also awaiting the Jackson Hole symposium for further clues on the Fed’s next move.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest