May 22 (Reuters) – Gold edged lower on Friday, on track for its second consecutive weekly loss, as higher oil \u200cprices and rising concerns around inflation and hawkish interest rates \u200cweighed on the metal.<\/p>\n
FUNDAMENTALS<\/p>\n
* Spot gold was down 0.2% at $4,534.29 per ounce by 0047 \u200bGMT. The metal was down about 0.1% for the week so far.<\/p>\n
* U.S. gold futures for June delivery lost 0.1% to $4,535.60.<\/p>\n
* U.S. Secretary of State Marco Rubio said there had been “some good signs” in talks \u200cwith Iran, although Tehran’s \u2060uranium stockpile and control over the Strait of Hormuz remained sticking points.<\/p>\n
* U.S. crude futures rose more \u2060than $1 in early trade on Friday as investors doubted the prospects of a breakthrough in peace talks. [O\/R]<\/p>\n
* How businesses and consumers respond to ongoing \u200beconomic shocks \u200bwill determine if the U.S. \u200bFederal Reserve can “look through” current \u200chigh inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.<\/p>\n
* Data showed that the number of Americans filing claims for unemployment benefits fell last week, pointing to labor market resilience and giving the Fed room to focus on \u200csurging inflation from the war with \u200bIran.<\/p>\n
* Markets are pricing in a Fed \u200brate hike before year-end, with \u200ba 60% chance of a move by December, \u200caccording to CME Group’s FedWatch tool. [FEDWATCH]<\/p>\n
* \u200bSpot silver fell \u200b0.5% to $76.32 per ounce, platinum lost 0.3% to $1,959.20, and palladium was steady at $1,377.89.<\/p>\n
DATA\/EVENTS (GMT)<\/p>\n
0600 Germany GDP Detailed QQ SA Q1<\/p>\n
0600 Germany GDP Detailed \u200bYY NSA Q1<\/p>\n
0600 UK Retail \u200cSales MM, Ex-fuel MM, YY Apr<\/p>\n
0645 France Business Climate Mfg, Overall \u200bMay<\/p>\n
1400 US U Mich Sentiment Final May<\/p>\n
(Reporting by Pablo Sinha \u200bin Bengaluru; Editing by Harikrishnan Nair)<\/p>\n","protected":false},"excerpt":{"rendered":"May 22 (Reuters) – Gold edged lower on Friday, on track for its second consecutive weekly loss, as…\n","protected":false},"author":2,"featured_media":453876,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,4486,43,6807,200832,40,38,41,39],"class_list":["post-453875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-interest-rates","tag-news","tag-oil-prices","tag-secretary-of-state-marco-rubio","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/453875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=453875"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/453875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/453876"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=453875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=453875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=453875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}