Gold prices held close to their highest levels in a year on Friday as recent US economic data fueled hopes that the US Federal Reserve is nearing the end of its interest rate hike cycle.
By 13:11 Moscow time, futures contracts for the yellow metal were trading at $2,055 an ounce, down slightly by 0.01% from the previous settlement price.
While the spot contracts for the precious metal were traded at $ 2040.07 an ounce, a decline of 0.01% also from the closing price, according to Bloomberg agency data.
Prior to that, spot contracts for resonant yellow were traded at $2044.09 an ounce, a level close to the highest level in nearly a year.
Gold prices received support from the decline in the dollar index, which measures the value of the US currency against a basket of major currencies, and the index fell by 0.13% to 100.88 points.
This article was originally published by RT.
