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Gold prices rose $2.28 an ounce on Wednesday after minutes from the Federal Open Market Committee’s May meeting suggested the central bank would not increase the pace of its interest rate hikes.
Gold prices ended Tuesday slightly lower after a quiet session. XAU/USD found support at around $1277.40 and reached the $1297-$1296 area as expected but it was unable to break through.
Gold prices ended Monday’s session up $2.12 an ounce but remained within a relatively narrow trading range.
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Gold ended the week down $25.87 at $1292.46 an ounce, weighed down by a rally in the U.S. dollar index amid surging U.S. Treasury yields.
Gold prices rose $0.59 an ounce on Wednesday, posting the first gain in four sessions, on short-covering as the U.S. dollar clawed back some of its recent losses.
Gold prices ended Tuesday’s session down $22.63 an ounce, extending losses to a third straight session, as rising bond yields and a strong U.S. dollar abated investor appetite for the precious metal.
Gold ended the week up $2.95 at $1317.93 an ounce, snapping a three-week losing streak, as a downside correction in the U.S. dollar index triggered some short-side profit taking.
Gold prices rose $8.86 an ounce on Thursday as a retreat in the dollar took some pressure off the yellow metal.
Gold prices ended Tuesday’s session nearly unchanged after a volatile day that saw prices swing between gains and losses.
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Gold prices ended a two-sided trading session slightly lower on Monday as the U.S. dollar advanced against the euro after a report showed that German factory orders dropped.
Gold ended the week down $8.12 at $1314.59 an ounce, recoding a third consecutive weekly loss, as the recent solid rally in the U.S. dollar index continued to curtail buying interest in the market.
Gold prices rose $6.93 an ounce on Thursday, helped by a drop in the U.S. dollar.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices are moderately up in early trading Thursday after the Federal Reserve left interest rates unchanged.
Gold prices dropped $11.09 an ounce on Tuesday, pushed down by a stronger dollar.
The market started the week on the back foot, suffering a loss of $7.53 an ounce, as the dollar’s strength continued to put downward pressure on the price of the precious metal.