Gold Back In Style At Yearly Highs
Gold futures continued to rise Thursday, extending significant recent gains amid renewed speculation the Federal Reserve will keep interest rates on hold this year.
Stubborn low inflation, hurricane damage and other economic headwinds may prevent the Fed from raising rates before year's end.
Meanwhile, tensions between North Korea and the West are boosting gold's safe haven appeal.
Gold was up $5 at $1343 an ounce, the highest in about a year.
Cleveland Federal Reserve Bank President Loretta Mester will speak about economic outlook and monetary policy at an event held by the Economic Club of Pittsburgh, World Affairs Council of Pittsburgh, CFA Society Pittsburgh, and Pittsburgh Association for Financial Professionals in Pittsburgh, with audience and media Q&A at 12.15 pm ET.
Kansas City Federal Reserve Bank President Esther George will discuss the U.S. economic outlook at the Omaha Economic Forum in Omaha at 8.15 pm ET.
Jobless Claims for the week will be published at 8.30 am ET. The economists are looking for new claims consensus of 241K, up from the 236K in the previous week.
The Labor Department's Productivity and costs report for the second quarter will be issued at 8.30 am ET. The growth consensus for non-farm productivity is 1.3 percent, compared to 0.9 percent in the previous quarter. Unit labor cost is expected to increase 0.3 percent, while it grew 0.6 percent in the previous period.