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Gold extends gains as the week begins
Gold prices continued to rise, Monday, with the start of trading week, to record a rise for the fourth session in a row to take advantage of the decline in the dollar against major currencies, in addition to the high demand for the precious metal.
Gold took advantage of the recent volatility of the USD versus major currencies and the correction movement that may begin on the USD after recent strong positive performance against major currencies.
On the other hand, the latest jobs report released by the US economy led to a decline in confidence in the future of interest rate movements with a decline in average wages, which indicates the weakness of sources of inflation.
Demand for gold has increased as Asian equities fluctuated today, while attention to inflation data this week on the US economy, which may help to know the status of inflation and hence the movements of US interest rates.
Gold prices were trading at $ 1317.93 an ounce after hitting a low of $ 1313.84 an ounce and opened the day at $ 1313.91 an ounce reaching $ 1319.00 an ounce.
http://economy-news.net/content.php?id=12207
Gold prices continued to rise, Monday, with the start of trading week, to record a rise for the fourth session in a row to take advantage of the decline in the dollar against major currencies, in addition to the high demand for the precious metal.
Gold took advantage of the recent volatility of the USD versus major currencies and the correction movement that may begin on the USD after recent strong positive performance against major currencies.
On the other hand, the latest jobs report released by the US economy led to a decline in confidence in the future of interest rate movements with a decline in average wages, which indicates the weakness of sources of inflation.
Demand for gold has increased as Asian equities fluctuated today, while attention to inflation data this week on the US economy, which may help to know the status of inflation and hence the movements of US interest rates.
Gold prices were trading at $ 1317.93 an ounce after hitting a low of $ 1313.84 an ounce and opened the day at $ 1313.91 an ounce reaching $ 1319.00 an ounce.
http://economy-news.net/content.php?id=12207
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