Gold Dips; Set at five for the first weekly profit as the dollar falls

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Although gold prices fell on Friday, prices are falling

They were still set for their first weekly profit since mid-April, e.g.

The dollar is falling from a two-decade high and concerns are mounting

US economic growth on reviving demand for safe haven.

Spot gold was down 0.2% at 8 1,838.81 per ounce, by

0258 GMT, tracking slight rise in dollar per day.

US gold futures fell 0.1% to 8 1,839.30.

Gold prices have risen about 1.5% this week.

“The threat of recession is now giving way to the fear of US growth,

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And the latter is helping gold, “said Stephen Ines, managing director

SPI is a partner in asset management, but the US Federal Dr.

The path of aggressive rate increase of reserves and quantitative hardening

There will still be major down-drafts for gold.

It may become less attractive as there is no interest in the bullion

To investors when short-term US interest rates are raised. It is

However, from time to time the price is seen as a safe store

The economic crisis.

The US Federal Reserve will raise interest rates by 2020

Just a month before the end of this year, put forward

Surviving a recession is already a significant risk, according to a Reuters poll

Found economists.

“It’s been an exciting week, after the bottom-up clean-up

Driven by higher actual yields of $ 1,800, it opened the door

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Long-term strategic buyers set foot on a technical front

Downtrend, “said Ines.

SPDR Gold Trust, reflecting demand growth

The world’s largest gold-backed exchange-traded fund said

Holdings rose 0.66% to 1,056.18 tonnes on Thursday

Recent trend of loss.

Spot Silver fell 0.3% to 21.83 an ounce, but it did

It has risen about 3.6% this week.

Platinum is down 0.7% at $ 955.50, and Palladium

Decreased 0.1% to 99 1,997.65. Both were set for weekly gains

About 1.7% and 2.8%, respectively.

(Report by Bharat Govinda Gautam in Bangalore; edited by

Sherry Jacob-Phillips and Rashmi Ich)

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