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    Home » 2016 » December » 20 » Gold prices rise for second straight day by declining us dollar
    6:03 PM
    Gold prices rise for second straight day by declining us dollar
    Gold prices rose Monday to communicate European market gains for the second consecutive day, ECHO operations from its lowest level in ten months, plus the US dollar slid against a basket of currencies.


     
    Gold rose by 10:15 GMT $1138.46 per ounce level of opening level of $1133.68, the highest level of $1142.19, $1133.57 lower.


     
    Gold prices ended Friday's trading higher by 0.5 percent, the first gain in four days, by ECHO operations from its lowest level in 10 months 1122.67 per ounce recorded in the previous day.


     
    Over the last week lost 2.3 percent rate of gold prices in the SF Weekly loss, respectively, among the longest string of weekly losses since October 2015, by intensifying the U.S. currency purchases after us interest rates a quarter of a percentage point.


     
    The Central American's decision last week to raise interest rates a quarter of a percentage point to 0.50 percent range: 0.75%, and emphasized the strength of economic growth in the country, and pointed to the continued tightening of monetary policy in 2017 by raising interest rates three times.


     
    The Bank President Janet raise rates came under tangible progress towards achieving economic targets in the country, and stressed that the tightening monetary policy expresses confidence in developments of economic growth.


     
    The dollar index slipped 0.2 percent, continuing its descent for the second consecutive day, with continuing corrections and profit-taking after the index Thursday, the highest level in 14 years, tumbling us currency comes as important data on the services sector in the United States during December.


     
    Gold holdings Gold Trust SPDR Fund has the biggest global gold-backed ETFs plunged Friday by 5.34 Mt, in the third straight daily decline, total 836.99 metric tons, the lowest level since May 11.
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