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Gold prices fell for a fourth straight session on Wednesday to settle at their lowest level in a week as the dollar strengthened after minutes from the latest Federal Reserve Open Market Committee meeting showed that policymakers backed further interest rate hikes.
Gold prices continued to slide yesterday, extending losses from Monday’s session, as the dollar continued to appreciate.
Gold prices ended Monday’s session down $0.72 an ounce as the dollar recovered some of its recent losses.
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Gold ended the week up $33.44 at $1347.65 an ounce, driven by a weak dollar. Despite a number of factors that should be driving the dollar higher, it is sliding again.
Gold prices ended Thursday’s session up $3.21 an ounce, extending gains to a fourth straight session, as dollar weakness continued.
Gold prices rose for a third straight session on Wednesday to settle at their highest level since January 29 as continued weakness in the U.S. dollar and inflation fears increased demand for the precious metal.
Gold prices ended Tuesday’s session up $6.66 an ounce as a weaker U.S. dollar gave the precious metal a boost.
Gold prices rose $8.18 an ounce on Monday, helped by a softer dollar. The dollar slipped yesterday as world stock markets rebounded after two weeks of sharp declines.
Gold ended the week down $15.55 at $1316.14 an ounce, recoding a second consecutive weekly loss, as the dollar’s rebound from multi-year lows weighed on the precious metal.
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The US Dollar gains stopped, hence, the gold got a chance to achieve more gains
Gold prices declined for a second straight session on Wednesday to settle at their lowest level since December 11 as the American dollar continued to gain strength.
Gold prices fell $13.72 an ounce on Tuesday as strength in the U.S. dollar and a recovery in stock markets weighed on the market.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices ended Monday’s session up $7.72 an ounce as a rout in global equities pushed investors back into gold.
Gold prices settled at $1332.58 an ounce on Friday, suffering a loss of 1.27% on the week, as the dollar edged up on a corrective bounce from recent strong downside pressure.
Gold prices ended Thursday’s session up $3.78 an ounce, extending gains from the previous session, as stock markets turned lower and the American dollar weakened.