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Gold prices edge higher, stages fresh assault on $1,300


Monday, 14 January 2019 19:59 WIB

GOLDEMASEmas berjangka


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Gold futures climbed solidly higher on Monday as weakness in both global stocks and the U.S. dollar helped to buoy the yellow metal.

February gold rose $5, or 0.4%, to $1,294.50 an ounce, after closing on Friday with 0.3% weekly advance. Futures are attempting to make a fresh assault on the psychologically significant level at $1,300, which could underscore upward bullish price momentum in bullion. The exchange-traded SPDR Gold Shares ETF rose 0.5% on Monday.

Meanwhile, March silver shed 3 cents, or 0.2%, to trade at $15.630 an ounce, following a 0.8% weekly loss last week.

The ICE U.S. Dollar index was off by less than 0.1% at 95.61, after putting in a weekly loss of 0.6% on Friday. Weakness in the buck can help drive appetite in assets priced in dollars, like gold, among buyers using other currencies.

Source: Marketwatch


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