Gold Price Is Now Rising
Gold futures contract on the COMEX division of the New York Mercantile Exchange ended higher for a third straight day on Friday or Saturday (13/1/2018), found support as the US dollar extended its previous decline.
The most active gold contract for February delivery, up 12.4 US dollars, or 0.94 percent, to close at 1,334.90 dollars per ounce.
The US dollar index, which measures the greenback against six competitors, declined 0.9 percent to 90.98 at 1930 GMT. Because most commodity prices are in US dollars, weakness in the US currency can provide support for assets such as gold, increasing their appeal among buyers using stronger currencies.
While other precious metals, silver for March delivery added 17.5 cents, or 1.03 percent, to settle at 17.147 dollars per ounce. Platinum for April delivery added 5.4 dollars or 0.55 percent, to close at 996.2 dollars per ounce.
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