MTECHTIPS:-Gold / Silver / Copper futures – weekly outlook: July

MTECHTIPS:-Gold / Silver / Copper futures – weekly outlook: July 31 – August 4

MTECHTIPS-Gold prices rose to one-and-a-half month highs on Friday as sluggish inflation data tempered expectations that the U.S. Federal Reserve will raise interest rates again this year, underpinning demand for the precious metal. Gold for August delivery closed up 0.74% at $1,269.34 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 1.08%, its third consecutive weekly gain. The dollar weakened broadly after data showing that wage growth and inflation remained tepid in the three months to June offset another report showing that U.S. economic growth accelerated in the second quarter. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ended down 0.61% at 93.20, the lowest close since June 22, 2016. The index has fallen around 2.3% so far this month and is down around 9% for the year to date. A weaker dollar tends to boost prices for gold, which is denominated in the U.S. currency. The subdued inflation outlook has raised doubts over whether the U.S. central bank will be able to stick to plans for a third interest rate hike this year. The Fed left rates on hold on Wednesday and said it expected to start shrinking its balance sheet “relatively soon

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