Gold prices were pretty much stationary on Friday, as a firmer American dollar eclipsed support from rising anxiety over increasing cases of coronavirus’ Delta variant that could delay economic recovery.
Spot gold was flat at $1,780.43 U.S. per ounce overnight Friday, while U.S. gold futures was little changed at $1,782.40.
The dollar index held near a more than a nine-month high hit on Thursday, denting gold’s appeal to holders of other currencies.
U.S. Federal Reserve Chair Jerome Powell will speak on “the economic outlook” at next week’s Jackson Hole, Wyoming symposium, the central bank said on Thursday, where some analysts expect him to lay out a clearer roadmap on the central bank’s taper plans.
Silver rose 0.1% to $23.25 per ounce and was headed for third straight weekly decline.
Platinum gained 0.5% to $977.95, but it is down 4.6% for the week so far.
Palladium was up 0.7% at $2,328.19. The metal was headed for its worst weekly performance since March 2020 falling 12.2% so far.