Gold ends higher on Friday as investors weigh data showing the Federal Reserve's preferred measure of inflation cooled off, though still running hot, in April.

The bank’s venture arm, SCB 10X, is using Compound Treasury’s 4% yield service via the Fireblocks custody platform.

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World shares rose and the dollar weakened on Friday after data showed that U.S. consumer spending rose in April and the uptick in inflation slowed, two signs the world's largest economy could be on track to grow this quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.9% last month, and although inflation continued to increase in April, it was less than in recent months. The U.S. Federal Reserve, in minutes from its May meeting released earlier this week, called inflation a serious concern.

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Gold discounts widened in India this week as demand faltered due to rise in prices, while demand in top consumer China was yet to see a substantial pick-up as COVID-induced restrictions were being gradually eased. Local gold prices were trading around 51,00 rupees per 10 grams on Friday, nearly up 3% from last week's 3-month low of 49,572 rupees. This week, dealers were offering a discount of up to $5 an ounce over official domestic prices — inclusive of the 10.75% import and 3% sales levies, down from the last week's discount of $2.

U.S. stocks were indicating a higher open on Wall Street and world stocks eyed their first weekly gain in eight on Friday on a more upbeat earnings view and after this week's Federal Reserve minutes dampened fears of mega-high interest rates. Optimistic U.S. earnings outlooks from department store operator Macy's Inc and discount chains Dollar General Corp and Dollar Tree boosted U.S. stocks on Thursday. The Fed's minutes of its May meeting released on Wednesday confirmed two more 50-basis-point hikes each in June and July, but policymakers also suggested the potential for a pause later in the year.

Gold is 0.4% higher this morning, as it is trading above the $1,850 price level. What about the other precious metals?

From now until the Fed’s Sept meeting, the focus for gold traders will be on U.S. inflation, growth and labor.

Asian shares on Friday extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers, while investors also took comfort from Federal Reserve minutes suggesting it could pause its rapid rate hikes later this year. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan rallied 1.8%, the biggest gain in a week, buoyed by a 2.8% jump in Hong Kong stocks as Chinese tech firms got a boost from better-than-expected first-quarter revenue growth from Alibaba and Baidu , as well as hopes of stabilising Sino-U.S. ties and more government stimulus. Japan's Nikkei advanced 0.6%, China's mainland blue-chips rose 0.6%，and Australia's resources-heavy index climbed 1.1%.

Yanomami people among most frequent victims of prospectors who have flocked to their demarcated lands in search of gold

Trader reaction to .6480 is likely to determine the direction of the NZD/USD on Friday.

Asian shares extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers, while investors also took comfort from Federal Reserve minutes showing a pause to its rate hikes is on the cards later this year. The United States will not block China from growing its economy, but wants it to adhere to international rules, Secretary of State Antony Blinken said on Thursday in remarks that didn't come as a surprise to investors and political analysts. Wall Street closed sharply higher overnight after optimistic retail earnings outlooks and waning concerns about overly aggressive interest rate hikes by the Fed encouraged buyers.

Gold prices edged up on Friday and were headed for a second consecutive weekly gain propped up by a pullback in the dollar and U.S Treasury yields, while fears of aggressive policy tightening by the Federal Reserve subsided. It has risen about 0.4% for the week. "The Fed is sticking to its point to some extent," said Daniel Pavilonis, senior market strategist at RJO Futures, adding there is an uncertainty over what happens after the next two interest rate hikes.

By Gina Lee

Gold prices fell despite weaker GDP data.

Silver prices edged lower as yields remained little changed.

World shares rose on Thursday and the U.S. dollar edged lower, a day after minutes from the U.S. Federal Reserve's May meeting indicated the central bank would remain flexible and might pause rate hikes later in the year. Europe's pan-regional STOXX 600 equity benchmark index rose 0.78%, while the MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.02%. The minutes of the Fed's May meeting, released on Wednesday, showed a majority of Fed officials supported the well-telegraphed rate hikes of 50 basis points each in June and July.

Bitcoin (BTC) was roughly flat over the past 24 hours, while altcoins such as ether (ETH) underperformed. That indicates a lower appetite for risk among crypto traders. Meanwhile, stocks traded higher on Thursday.

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Gold futures closed modestly higher on Thursday as the dollar extended its recent pullback against its main rivals and stocks rallied.

Although storage levels are anemic and trending in the wrong direction, the keys to sustaining the rally will be low output and hot weather.

Silver markets have initially fallen during the trading session on Thursday but then turned around to show signs of life again. By doing so, the market looks as if it is trying to figure out what to do about the $22 barrier.

Investors in Newmont Corp (NEM) saw new options begin trading today, for the June 2023 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 386 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration..

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Gold is 0.6% lower this morning, as it is trading close to the $1,850 price level again. What about the other precious metals?

Plus, Exxon loses another shareholder vote and Asia is starting to compete again with European gas buyers