On Friday, September 27, by the close in New York, spot gold fell 0.53% to $2,658.24 per ounce, pulling back from Thursday's record high of $2,685.58. For the week, it rose 1.38%. COMEX gold futures dropped 0.50% to $2,681.40 per ounce, with a weekly gain of 1.39%.
Spot silver declined 1.41% to $31.5675 per ounce, gaining 1.25% for the week. COMEX silver futures fell 1.18% to $31.925 per ounce, with a weekly increase of 1.51%.
Traders digested the latest US inflation data, which reduced gold’s gains for the week. However, the anticipation of further rate cuts from the Federal Reserve helped gold prices reach a series of new highs this week.
