Gold is heading for the best week since the beginning of May, supported by the decline in the dollar

Gold is heading for the best week since the beginning of May, supported by the decline in the dollar
Gold is heading for the best week since the beginning of May, supported by the decline in the dollar

Gold fell 0.2% to $1,792.54 an ounce, by the close of the Tokyo Stock Exchange, but rose 2% during the week.

And the CNBC Arabia website stated that US gold futures fell 0.3% to $1,793.10 per ounce.

Gold is heading towards its best week in nearly five months, supported by the decline in the US dollar, which boosted the attractiveness of the yellow metal despite an imminent reduction of the stimulus measures taken by the Fed.

And the dollar index headed towards its first weekly decline in six weeks, which strengthened the attractiveness of gold to buyers of other currencies.

As for other precious metals, silver fell 0.4% to $23.45 an ounce, but it is in the process of recording the largest weekly increase in seven weeks.

Platinum rose 0.1% to $1,056.02 per ounce, and palladium rose 0.4% to $2,137.68 per ounce.

Platinum and palladium are also heading towards recording gains for the second week.

Source

Gold heading week beginning supported decline dollar

 
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