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Gold holds steady near two-month peak in slow year-end trading


Friday, 27 December 2019 21:00 WIB

GOLDEMASSILVER


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Gold steadied after rising to its highest in nearly two months earlier on Friday, as investors cautiously adjusted their positions in thin year-end trading, but the metal was still on path for its best week in more than four months.

Spot gold was little changed at $1,510.51 per ounce. Gold rose to its highest since early November at $1,513.88 earlier in the session, but pared gains as traders took profits. It has gained over 2% so far this week, the most since the week of Aug. 9.

Gold has rallied this year on the back of the long-drawn U.S.-China trade war that triggered fears of a global economic slowdown and helped the safe-haven metal gain over 17% so far this year.

Elsewhere, silver fell 0.2% to $17.85 per ounce, while platinum rose 0.4% to $950.50. Both the metals were poised to register their best week since late August. Palladium advanced 0.4% to $1,908.58 per ounce.

Source : Reuters


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