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Gold prices hold near 1-week lows on stronger dollar


Thursday, 7 February 2019 09:25 WIB

GOLDEMAS


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Gold on Thursday held near one-week lows touched in the previous session amid a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300-level.

Spot gold was steady at $1,306.81 per ounce at 0050 GMT. Prices fell 0.7 percent in the previous session in their biggest one-day drop since Jan. 18, at one point touching their lowest since Jan. 29 at $1,305.30.

U.S. gold futures were down 0.3 percent at $1,310.70.

The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high in early Asian trade.

A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.

Source: CNBC


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