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Gold ends lower, suffers a weekly loss as bond yields rise


Saturday, 14 September 2019 02:08 WIB

GOLDEMAS


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Gold futures ended lower on Friday, giving up earlier gains to feed a loss for the week as appetite returned for assets perceived as risky and bond yields climb.

Gold pared some of its earlier gains then turned lower after data Friday revealed that the University of Michigan consumer sentiment index rebounded to 92 in September from 89.8 in August. U.S. business inventories also increased by 0.4% in July and U.S. retail sales rose 0.4% in August.

December gold on Comex lost $7.90, or 0.5%, to settle at $1,499.50 an ounce, with the commodity suffering at a weekly decline of 1.1%. Silver for December delivery dropped 60.8 cents, or 3.3%, to $17.569 an ounce—the lowest finish since Aug. 23, according to FactSet data. Prices saw a weekly loss of 3%.

Source : Marketwatch


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