Gold Futures Fall After Recent Gains
After three successive days of gains, gold prices are drifting lower Friday morning as riskier assets such as equities look poised for a rebound of sorts after recent weakness.
U.S. index futures point to a positive start for stocks on Wall Street this morning.
The dollar’s weakness and continued worries about coronavirus pandemic and pace of economic recovery appear to be limiting gold’s decline.
The dollar index is weak at 93.20. It had closed at 93.34 on Thursday.
Gold futures for December are down $12.70 or 0.65% at 1,951.60 an ounce.
Silver futures for December are falling $0.396 or 1.45% at $26.895 an ounce.
On the economic front, data on U.S. consumer prices for the month of August is due at 8:30 am ET.