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Gold on Track for Small Weekly Loss as Dollar Strengthens


Friday, 8 February 2019 20:50 WIB

GOLDEMAS


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Gold futures edged higher early Friday but remained on track for a small weekly loss in the face of a stronger U.S. dollar, though bulls remained encouraged by the haven yellow metal’s resilience.

Gold for April delivery on Comex was up $2.20, or 0.2%, at $1,316.40 an ounce, leaving it down 0.4% for the week. Gold remains up 2.7% since the end of last year. March was up 6.7 cents, or 0.4%, to $15.78 an ounce.

The ICE U.S. Dollar Index a measure of the U.S. currency against a basket of six major rivals, was up 0.1% on Friday, leaving it on track for a 1.1% weekly rise. A stronger dollar can be a negative for commodities priced in the unit because it makes it more expensive to users of other currencies.

Source : Marketwatch


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