Commodities

Gold ends higher, posts weekly gains

2020-09-18 21:18:29 GMT (Economies.com)

Gold prices rose on Friday, and posted weekly gains as the US dollar fell against most of its peers.

 

Data showed that the US current account posted a deficit of $171 billion in the second quarter, worse than expectations of $158 billion, while the consumer confidence index rose to 78.9 points this month.

 

The US Federal Reserve announced on Wednesday keeping the interest unchanged, and signaled that it plans to keep it near zero until the end of 2023.

 

The dollar index slipped against a basket of currencies by less than 0.1% to 92.9 points as of 20:47 GMT, after hitting a high of 93.01 and a low of 92.7.

 

Gold December futures rose 0.6% or $12.20, to close at $1,962.1 an ounce, with 0.7% weekly gains, after hitting today's high at $1,968.2 and the low at $1,951.1.

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