Gold prices edged lower on Friday, extending losses to a fourth straight session, as the dollar firmed up against other major currencies and the yields on bonds rose.

The dollar index rose to 91.31, gaining more than 0.8%.

Gold futures for June ended lower by $0.60 or 0.03% at $1,767.70 an ounce. Gold futures gained about 3% in the month.

Silver futures for July ended down $0.212 at $25.873 an ounce, while Copper futures for July settled at $4.4680 per pound, down $0.0185 from previous close.

On the economic front, a report from the Commerce Department said personal income in the U.S. soared by 21.1% in March after plunging by a revised 7% in February.

Economists had expected personal income to spike by 20.3% compared to the 7.1% slump originally reported for the previous month.

The report also showed personal spending jumped by 4.2% in March following a 1% decrease in February. Personal spending was expected to surge up by 4.1%.

Chicago-area business activity unexpectedly saw faster growth in the month of April, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer jumped to 72.1 in April from 66.3 in March, with a reading above 50 indicating growth. Economists had expected the index to edge down to 65.3.

Revised data released by the University of Michigan showed consumer sentiment in the U.S. improved by more than initially estimated in the month of April.

The report showed the consumer sentiment index for April was upwardly revised to 88.3 from a preliminary reading of 86.5. Economists had expected the index to be upwardly revised to 87.5.

The consumer sentiment index rose from 84.9 in March to reach its highest level since hitting 89.1 in March of 2020.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.