Gold falls for the second week in a row after data that supported the dollar | Market words


Gold prices fell to their lowest levels in more than a week, registering the second consecutive weekly decline, due to positive economic data that supported the dollar, which led to the decline of the yellow metal’s attractiveness.

Economic activity in the United States rose to its highest level in 18 months, but the gains in the dollar and US stocks pressured the yellow metal to fall during trading before it turned to rise at the settlement.

In spot transactions, gold lost 0.2% to 1939.4 dollars an ounce, after falling 1% earlier in the session to 1910.99 dollars.

US gold futures settled unchanged at $ 1934.6.

Over the course of the week, gold is down 0.1%, and prices have fallen sharply from over $ 2,000 earlier this week.

As for the rest of the precious metals, silver recorded a positive weekly performance, increasing by 2.46%, and palladium rose by 2%, while platinum fell by 3%, which is the biggest weekly loss in a month.


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