Gold records first weekly gain in 4 weeks
10:50 - 16/12/2017
Information / Baghdad ..
Gold prices have maintained their earlier gains to close higher and record their first weekly increase in four weeks as they resisted pressure from rising equity markets, which are still supported by a rate hike this week by the US Central Bank.
The yellow metal rose 0.3 percent to $ 1256.49 an ounce late in the US session, ending the week up 0.7 percent after recovering from a five-month low of $ 1235.92 struck on Monday.
US most active gold futures rose 0.03% to settle at $ 1257.50 an ounce.
Gold prices are up about 9% from their level at the beginning of the year, while global stocks and industrial metals rose about 20%.
Among other precious metals, palladium fell 1.07% to $ 1,021.97, ending the week up after hitting $ 1038 on Thursday, its highest since early 2001. Ending / 25