Gold prices were flat Friday morning, having fallen sharply in the aftermath of Wednesday’s policy statement from the Federal Reserve.
With many traders anticipating the Fed will keep interest rates near zero through the upcoming winter, fold has lost some of its safe haven appeal.
Stocks are on rise, limiting the appetite for gold.
U.S. gold was up 1 dollar at $1148 an ounce on the Comex. Despite this week’s decline, gold remains on track for solid monthly gains.
On the economic front, the Commerce Department is due to release its personal income and spending report for September at 8:30 am ET.
Economists expect personal income and personal spending to have both grown by 0.2 percent month-over-month.
At 10 am ET, the University of Michigan is set to release final estimates of its U.S. consumer sentiment survey for October.
The material has been provided by InstaForex Company – www.instaforex.com