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Gold futures continue to rise up to the highest level in two weeks

2017-12-22 12:38 pm | Resource: NEWS | No Views : 315

Gold futures continue to rise to a two-week high. The yellow metal opened Friday at $ 1265 during Asian trade, continuing to reach $ 1269 in mid-European trading, gaining 1.60 points. The gains came after the decline in the US dollar index, which measures the performance of the dollar against a basket of currencies.

Where the dollar index is trading near a three-week low of 92.74 points, reflecting the continued weak performance of the US currency against a basket of global currencies, which is in favor of the rise of metals denominated in US dollars, and data released by the US Department of Commerce on Thursday the growth of the largest global economy 3.2% in the third quarter, below analysts 'expectations of 3.2%. The fall of the broad US currency this week is due to investors' assessment of future risks due to the application of the new US tax code, which lies in the bill of law, which It signed to lead the country's debt to rise and increase the issuance of bonds and the widening budget deficit.

Gold prices rose by about 1% this week in a way to achieve the second consecutive weekly gain, with recovery from the lowest level in five months, supported by the rise of most of the metals denominated in US dollars. Gold prices ended yesterday's trading up 0.1% , The second consecutive daily gain, and recorded the highest level in two weeks 1268 dollars an ounce, due to the fall of the US dollar.

On the silver front, the price of silver rose yesterday by 0.13% to reach $ 16.26 during the mid-European session. Silver ended yesterday's trading by 0.4% Week, 16.26. Silver prices so far rose by 1.1%, achieving the second weekly gain in a row, as the US dollar fell and copper prices rose on global markets.

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