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Gold market aims for rebound after biggest daily drop in 2 weeks


Monday, 7 January 2019 20:31 WIB

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Gold futures traded higher on Monday, after the precious metal booked its worst single-session drop in two weeks Friday, amid signs of economic resilience in the U.S., despite slowing international growth.

February gold on Comex gained $7.20, or 0.6%, at $1,293 an ounce, following a 0.7% fall on Friday, its largest daily drop since Dec. 21, according to FactSet data. For the week, gold futures rose about 0.2%, following gains in each of the last two weeks.

March silver meanwhile, advanced 4 cents, or 0.3%, at $15.83 an ounce, after gold’s sister metal fell 0.1% to end last week, with prices producing a weekly gain of about 2.3%.

Bloomberg


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