DOLLAR STALLED, GOLD NOT READY TO RALLY
Gold spot rose 0.5 percent to $1,211.98 an ounce by 10:01 GMT. It was down 0.8 percent for the week as it is heading for its biggest fall since the week ended April 24 and 1.5 percent below a three-month high of $1,232.20 hit May 14. This is not likely to change in view of the upcoming holiday weekend and the ever-looming interest rate hike. Danske Bank senior analyst Jens Pedersen said, "There is consensus among analysts that the rate hike is now being pushed back to September, but the risk is the Fed will postpone the rate hike towards the end of the year or even the beginning of 2016, which could be supportive."
Stocks Friday are on track to close near record highs. U.S. futures pointed to a slightly positive open on Wall Street, after the S&P 500 hit an all-time high Thursday. Federal Reserve Chair Janet Yellen will take center stage later Friday. Earlier this week, Federal Reserve meeting minutes appeared to push the timing of the first U.S. rate hike out to late 2015 while the ECB's Benoit Coeure said the euro zone bank could increase its bond purchases in the near term.
At 12:30 p.m. (ET), the APMEX Precious Metals spot prices were:
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