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Gold rose on Friday as continued dollar weakness kept the precious metal on track for a fourth straight weekly gain. In addition to dollar-denting on expectations that the brakes could soon be applied to U.S. interest rates, gold was also supported by increasing market nervousness over U.S. President Donald Trump's unbending demand for a wall to be built on the border with Mexico.
Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
As of Wednesday’s close, gold futures were trading 0.45% higher and the U.S. Dollar Index about 1.01% lower for the week. This indicates the weaker U.S. Dollar is continuing to exert the biggest influence on the safe-haven precious metal.
Gold eased on Thursday, holding below the key $1,300 an ounce level, as the dollar bounced back from lows, with the precious metal paring back gains seen after dovish U.S. Federal Reserve minutes in the previous session.
PRECIOUS-Gold flat as firmer dollar offsets growth concerns