Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade

Saturday, 14 December 2019 02:21 WIB



Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States.

Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more than recover its loss from Thursday. March silver meanwhile, shed 1.9 cents, or 0.1%, to $16.93 an ounce, after four consecutive sessions of gains.

Among other metals on Comex, March copper fell 0.5% to $2.7815 a pound, looking at a weekly rise of 2%. January platinum shed 1.3% to $932.40 an ounce, trading around 3.7% higher for the week.

Palladium was poised to reach another record settlement Friday, with the March contract up 0.6% at $1,925.20 an ounce.

Source: Marketwatch


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