Gold prices were higher in Asian hours on Friday, with market players preparing for a fresh batch of economic releases later in the day, while the US dollar remains on the spotlight.
On the Comex division of the New York Mercantile Exchange, gold futures were up 0.87 percent at $1.338.90 a troy ounce as of 06:30 GMT.
The yellow metal moved away from two-week highs as the American currency recovered some positions after bouncing in the way of a widely expected interest rate hike on Wednesday.
Earlier this week, the US Federal Reserve increased its benchmark rate by 25 basis points to a range between 1.50 percent and 1.75 percent.
The US dollar index, which measures the greenback against six major currencies, was trading 0.24 percent lower at 89.16 by the time of this writing.
On Thursday, President Donald Trump announced tariffs on nearly $50 billion worth of Chinese exports invoking Section 301 of the 1974 Trade Act. The Trump administration considers China is violating multiple terms on US intellectual property.
Investors are concerned that the decision would increase tension between the world’s two biggest economies and potentially derivate in a massive trade war.
Meanwhile, BNP Paribas said it continues to expect a fourth interest rate hike this year.
“With the median dot holding at three hikes for this year by the tiniest of margin, for us the balance of risk is clearly weighted towards the FOMC bringing forward its rate path expectations,” wrote BNP Paribas.
On the data front, initial jobless claims rose to 229,000 from an estimated 225,000. Preliminary readings on manufacturing and services PMIs came below expectations at 55.7 and 54.1.
Ahead in the session, durable goods orders for February will be out at 12:30 GMT. New home sales for February are expected to be published at 14:00 GMT.
As of gold, the precious metal broke above the 1350 level, but the bullish momentum is lost due to the fact that risk aversion has come back into the markets. For now the 55 day EMA may act as support at the 1323 level. To the upside, the peak at the 1366 level could act as resistance.
고위험 경고: 외환 거래는 모든 투자자에게 적합하지 않을 수 있는 높은 수준의 위험을 수반합니다.
레버리지는 추가적인 위험 및 손실 노출을 만듭니다. 외환 거래를 결정하기 전에 투자 목표, 경험 수준 및 위험 허용 오차를 신중하게 고려하십시오.
초기 투자의 일부 또는 전부를 잃을 수 있습니다. 잃을 여유가 없는 돈을 투자하지 마십시오. 외환 거래와 관련된 위험에 대해 스스로 교육하고 궁금한 점이 있으면 독립 금융 또는 세무사에게 조언을 구하십시오.
모든 데이터 및 정보는 정보 제공 목적으로만 있는 그대로 제공되며 거래 목적이나 조언을 위한 것이 아닙니다.
과거의 성과는 미래의 결과를 나타내는 것이 아닙니다.