Gold Prices Higher But Fed Rate Hike Prospects Cap Gains

28-Aug (Wall Street Journal) — Gold prices were slightly higher on the London spot market Friday, but the prospects of a stronger dollar and further good economic news out of the U.S. will likely keep a cap on the price of the metal in the coming weeks.

Gold missed out on the big gains across commodities on Thursday, as the positive U.S. economic data that pushed oil and metals higher dulled traders interest in safe haven assets and increased the likelihood of a September interest rate rise.

On Friday gold traded slightly higher on a day when many commodities appeared to lack firm direction.

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