Gold fluctuates in Asia

On Friday, gold traded narrowly during Asia trade, with the market treading water ahead of views from the Fed Chair later in the day supposed to set the tone.

In New York, December delivery gold futures rose 0.02%, hitting $1,325.35 per troy ounce. Meanwhile, September delivery silver futures earned 0.06%, getting to $18.517 per troy ounce. As for September delivery copper futures, they ascended 0.10%, trading at $2.078 a pound.

Earlier, In Japan, July’s national core CPI edged down 0.5% year-on-year more than the 0.4% drop observed, while national CPI descended 0.4% as expected in data that’s currently calculated under a 2015 base year with updated weightings. The core figure appeared to be the fifth straight sink after a 0.4% slump in June. Additionally, retailers are cautious regarding raising prices in broad sectors after last year's price lifts amid uncertainty over global as well as domestic growth. Aside from that, slow wage hikes are clouding the prospects for the BOJ’s meeting its stable 2% inflation objective. 

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