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Gold climbed to the highest level in 11 weeks on Thursday on political uncertainty in the U.S but gave up some of its gains in Asia today as investors awaited the U.S. jobs report.
Gold prices ended the month up 5.2% at $1210.23 an ounce, benefited from uncertainty about the nature and direction of U.S. President Donald Trump economic policies and a weaker dollar.
Gold ended the week down 1.5% at $1191.13 an ounce, ending its four-week winning streak, as surging U.S. stock markets took some momentum away from the precious metal.
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Gold ended the week up by 2.5% at $1197.79 an ounce, recoding a third consecutive weekly gain, as the American dollar’s weakness made gold more popular.
Gold prices ended the week up $22.31 at $1172.61 an ounce, as a retreat in the dollar took some pressure off the precious metal.
Gold markets continue to see negative pressure, as the session on Monday went long. We tested the $1150 level, that I have marked on the chart.
For the first half of the year, the precious rallied from that low to $1375 at the beginning of July as the greenback remained weak on perception that bleak economic growth, along with global issues, would keep the Federal Reserve from raising interest rates four times as it projected.
Gold markets have been extraordinarily bearish over the last several months, and with that being the case I don’t have an interest in buying this market.
Gold prices settled at $1133.64 an ounce on Friday, ending the week just below where they started, as traders digested a series of mixed U.S. data releases.
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Gold ended the week down by 2% at $1133.70 an ounce, recoding a sixth consecutive weekly loss, as the U.S. dollar's strength against other currencies weighed on the market.
Gold markets had a slightly negative session on Tuesday, as we continue to bounce around the $1160 level.
Gold ended the week down $23.01 at $1159.20 an ounce, under pressure from higher risk appetite and the prospect of higher interest rates.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold ended the week down $6.13 at $1176.82 an ounce as strong U.S. economic data bolstered the case for the Federal Reserve to take a more hawkish stance on the monetary policy.
Gold prices settled at $1173.17 an ounce on Wednesday, suffering a loss of 8.14% over the month.
Gold ended the week down $23.73 at $1183.97 as the latest batch of U.S. economic data continued to support views the Federal Reserve will raise interest rates in December.