Gold price set for streak of 3rd week gains as US dollar gets weaker

London (Feb 17)  As the dollar is close to its one week low, gold prices have been stable maintaining its gains amid the political instabilities in America & Europe. US gold futures were down 0.2% at $1239, whereas gold was stable at $1238.16.

 

Concerns over Donald Trump’s policies, followed by elections in France, Germany and Netherlands propelled gold to touch its peak at $ 1244.67, on February 8.

 

 The dollar index touched a one week low of 100.410 on Thursday. The index which measures the greenback against a basket of currencies on Friday was at 100.490.

Holdings of SPDR Gold, which is the world's largest gold-backed exchange-traded fund, have surged by 5.6% so far this month, which is the highest since June 2016.

 

Platinum jumped up 0.1% to $1,013.20; and spot silver slipped 0.2% to $18.06 an ounce.

 Palladium dipped 0.6% to $ 787.45.

Source: HFL