Gold prices fell on Friday, retreating from the previous sessions one-month highs as the dollar strengthened against a currency basket after U.S. jobs data showed a slowdown in hiring in December but a pickup in wage growth. The metal was still 1.97% higher for the week, its best weekly performance in two months, helped by a broad weakening of the dollar earlier in the week.
Elsewhere in precious metals trading, palladium ended at a five-week high of $758.35 late Friday. The metal, which is used in vehicle catalysts to clean exhaust emissions ended the week with gains of around 11% after data showing U.S. sales of new cars and trucks hit a record high in 2016.
Silver was down 0.73% at $16.52 a troy ounce late Friday, after touching highs of $16.76 in the previous session, its highest since December 15.
Platinum was down 0.32% on the day at $972.85 an ounce but was up almost 7.5% for the week. The metal touched its highest since November 11 at $979.75 on Thursday.
In the week ahead, investors will be looking ahead to U.S. economic reports, particularly Friday’s retail sales figures for December. Investors will also be watching an appearance by Fed Chair Janet Yellen on Thursday and speeches by a handful of other Fed officials during the week.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, January 9
Financial markets in Japan will be closed for a holiday.
Australia is to release data on building approvals.
The U.K. is to release industry data on house price inflation.
Boston Fed President Eric Rosengren and Atlanta Fed President Dennis Lockhart are to speak.
Tuesday, January 10
Australia is to report on retail sales.
China is to release data on consumer and producer prices.
Canada is to publish figures on building permits.
Also Wednesday, U.S. President-elect Donald Trump is scheduled to hold his first post-election news conference, which investors will be watching for any hints about the possible direction of economic policy.
Wednesday, January 11
The U.K. is to release a report on manufacturing and industrial production as well as trade data.
Thursday, January 12
The European Central Bank is to publish the minutes of its last monetary policy meeting.
Canada is to report on new house price inflation.
The U.S. is to release the weekly jobless claims report along with data on import prices.
Fed Chair Janet Yellen is to speak at an event in Washington.
Also Thursday, Philadelphia Fed President Patrick Harker, Chicago Fed President Charles Evans, Atlanta Fed’s Dennis Lockhart, St. Louis Fed President
James Bullard and Dallas Fed President Rob Kaplan are due to speak.
Friday, January 13
China is to report on the trade balance.
The U.S. is to round up the week with reports on retail sales, producer prices and a preliminary look at consumer sentiment.
Philadelphia Fed President Patrick Harker is also to speak.