Gold price down for 6th week in row

August 18, 2018

New York (Aug 18)  Gold prices rose slightly on Friday, but recorded its sixth consecutive weekly loses, declining by around $35.

A slip by the US dollar helped the yellow metal rise on the last trading day of the week by $0.2 to the level of $1,184.20 per ounce.

Meanwhile, gold registered a 2.9% weekly drop, its biggest since the week ended 5 May 2017.

Gold prices have now decreased by around 10% year-to-date, falling to capitalize on the rising geopolitical tensions, especially because of the dollar’s strong performance against major currencies.


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