The strength of the dollar puts gold on a weekly losing track

Gold prices rebounded today, Friday, after falling to their lowest levels in a month during the previous session, but the strength of the dollar brought the precious metal on a path of weekly decline as investors awaited the next meeting of the Federal Reserve (Central Bank of the United States). week.

Spot gold rose 0.5% to $ 1,762.55 an ounce, while US gold futures rose 0.4% to $ 1,762.80 an ounce. The yellow metal lost 1.6% of its value this week.

The dollar traded close to a three-week high on Friday, making gold more expensive for holders of other currencies.

Gold fell 2.7% on Thursday after the dollar index jumped, while an unexpected surge in U.S. retail sales last month reinforced expectations that the Federal Reserve will cut its schedule. of stimulus earlier than expected.

The Federal Reserve’s Open Market Committee meets on 21 and 22 September.

For other precious metals, silver stood at $ 22.94 an ounce, after hitting its lowest level yesterday in over a month.

Platinum was up 1.1% to $ 942.76 an ounce, while Palladium fell 1.3% to $ 2007.95 an ounce.

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