In the early morning of the 29th Beijing time, gold futures prices returned above 1900 US dollars on Friday. Gold futures rose this week and this month.
Jeff Wright, chief investment officer of Wolfpack Capital, said: "the price of gold in May was driven by the return of inflation and capital inflows from Bitcoin volatility as shown by economic data."
Economic data released on Friday showed that the inflation index of personal consumption expenditure in the United States rose 3.6% in May from a year earlier, the biggest increase since 2008 and exceeding the Fed's 2% target.
Jeff Wright said that for gold, the most influential and worrying thing for the market is interest rates, followed by whether / when the Fed will start to scale back its asset purchases, followed by inflation and employment data.
Gold futures for August delivery on the New York Mercantile Exchange rose $6.80, or 0.4%, to close at $1905.30 an ounce, the highest closing price since January 7. In terms of the most active contracts, gold futures are up 1.5 per cent this week and 7.8 per cent this month.
Silver futures closed up 7 cents, or 0.3%, at $28.01 an ounce. Silver futures are up 1.9% this week and 8.3% this month.