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Metals: Gold prices strengthen on Friday

08/09/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Due to the strong dollar and Treasury yields, the gold price strengthened on Friday, but is expected to fall weekly.

U.S. gold futures rose 0.2% to $1,946.90. Spot gold was up 0.2% at $1,922.87 per ounce at 1:16 GMT, but is expected to fall 0.8% weekly. China held 69.62 million ounces of fine gold at the end of August, compared to 68.69 million ounces at the end of

July.

In addition, palladium rose 0.2% to $1,214.83, but is on track for its fourth consecutive weekly decline. Cash rose 0.2% to $23.01 per ounce and platinum rose 0.3% to $906.14. However, both had their worst week since June 23rd.

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