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Metals: Gold on the verge of a second weekly fall

06/12/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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As market participants prepare to receive U.S. employment data that should provide guidance on the trajectory of interest rate cuts, the gold price rose slightly on Friday, but headed for a second ; the consecutive week of decline.

US gold futures rose 0.5% to $2,661.00. Spot gold rose 0.3% to $2,638.66 per ounce at 0346 GMT after reaching the lowest level since Nov. 26 earlier in the session. Prices are down by 0.4% since the start of the week

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Spot silver fell 0.1% to $31.3 per ounce, but was up more than 2% for the week. Platinum rose by 0.6% to 944.25 dollars and palladium by 1.5% to 977.25 dollars. Both metals are on the verge of suffering their second consecutive weekly loss.

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