Gold Gains on Weaker Dollar, Rising Equities Cap Upside
Friday, 13 September 2019 19:19 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices rose back above the key $1,500 level on Friday as the U.S. dollar slipped on the back of a strong euro, though hopes for a thaw in Sino-U.S. trade tensions supported equity markets, capping bullion™s gains.

Spot gold rose 0.5% to $1,506.61 per ounce, but was marginally down for the week. U.S. gold futures rose 0.5% to $1,514.30 per ounce.

œThe main reason is that the dollar is lower. Market focus is now on the Federal Reserve meeting and retail sales data, which is due today, ABN Amro analyst Georgette Boele said.

The U.S. dollar slipped from an over one-week high scaled in the previous session as the euro surged on rising German bond yields as investors bet the European Central Bank was done cutting interest rates.

Source : Reuters

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