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June 14, 2008
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Saturday
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Jamadi-us-Sani 09, 1429
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Gold prices lower
LONDON, June 13: Gold weakened in Europe on Friday after the euro slipped to a one-month low against the dollar in the wake of an Irish vote on EU reform.
Gold dipped to $863.10/864.10 an ounce from $867.55/869.55 late in New York on Thursday.
Precious metals traders are now awaiting US CPI data due later on Friday, strength in which could increase the likelihood of a hike in interest rates later this year and further benefit the dollar.
They will also be closely watching this weekend's G8 finance ministers' meeting, at which inflation is expected to take centre stage.
This is the end of a pretty choppy week. People will be keeping an eye on the dollar as the key driver of intraday direction, said James Moore, an analyst at TheBullionDesk.com.
—Reuters
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