Commodities Update — Gold bounces back; Soybean eases; Russian shelling destroys 300,000 tonnes of grain

RIYADH: Gold prices bounced back in volatile trading on Friday as focus turned to economic risks after elevated US inflation readings bolstered bets for aggressive interest rate hikes.

Spot gold is currently priced at $1,871.60 an ounce, while US gold futures are at $1,875.50.

Soybean eases

Chicago Board of Trade soybean futures ended weaker on Friday on profit-taking after rallying close to an all-time high on strong US export demand and supply concerns.