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Gold eyes biggest weekly gain since March 2018 on rate cut views


Friday, 7 June 2019 20:51 WIB

GOLDEMAS Spot Emas


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Gold prices steadied on Friday, but remained on course for their biggest weekly gain since March 2018, after rising expectations for a U.S. rate cut and concerns over trade tussles boosted demand for safe-haven bullion. However, having failed earlier this week to breach its 2019 high of $1,346.73, analysts expect the metal to consolidate until there is fresh impetus.

Spot gold was up 0.6% at $1,342.80 per ounce, while U.S. gold futures were up 0.36% at $1,347.50.

Among other metals, silver rose 0.99% to $14.99 per ounce, on track for its biggest weekly increase since late January.

Platinum was flat at $803.40 an ounce. The metal was still headed for its first weekly gain in seven. Palladium rose 0.27% to $1,355.32 an ounce.

Source : CNBC


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