MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: August 6 – 10

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MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: August 6 – 10

MTECHTIPS-Gold prices look likely to remain vulnerable to the stronger dollar this week, as expectations for additional U.S. interest rate hikes this year underpin demand for the greenback. There aren’t many major events coming up on the economic calendar, but Friday will see an update on consumer prices for July, which will be the week’s most closely watched U.S. data release. Gold prices edged higher on Friday after data showing that U.S. job growth slowed more than expected in July, but labor market conditions continued to tighten. Gold futures for December delivery settled up 0.15% at $1,221.9 on the Comex division of the New York Mercantile Exchange. The precious metal still ended the week down 0.69%, its fourth consecutive weekly loss. Despite the slowdown in jobs growth the employment report supported expectations for two more rate hikes from the Federal Reserve this year. The Fed kept interest rates on hold on Wednesday but said the U.S. economy was strong, indicating that it is on track to deliver expected rate hikes in September and December

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