Gold Gives Back Ground But Still Posts Third | Commodities
(RTTNews) – After closing greater for eight consecutive periods, the price of gold gave back some ground during trading on Friday.
Gold for March supply fell $21.80 or 0.7 p.c to $3,018.20 an ounce after inching up $4.10 or 0.1 p.c to a report closing high of $3,040 an ounce during Thursday’s session.
Despite the pullback on the day, the price of gold climbed 0.8 p.c for the week, marking its third consecutive weekly gain.
The lower by the price of the valuable metallic got here amid a continued increase by the worth of the U.S. greenback, with the U.S. greenback index rising 0.3 p.c to 104.11.
Selling stress remained comparatively subdued, nevertheless, as gold continued to benefit from its appeal as a protected haven because of ongoing issues concerning the financial outlook and the impression of President Donald Trump’s tariffs.
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