Gold prices waver on thin trading due to U.S. bank holiday

Economies.com
2017-02-20 14:37PM UTC

Gold prices wavered on Monday due to thin trading volumes amid the U.S. bank holiday, which made the precious metal hover near a 3-1/2 month high.
 
Gold last traded at $1,237.7 an ounce, compared to the opening of $1,236.0, with a session-high at $1,238.8, and a low at $1,232.5.
 
Gold managed to hold on to its recent gains as the dollar wavers against a basket of currencies due to tensions in the markets about the new U.S. administration's policies, which raised demand on gold as a safe haven.
 
On the other hand, higher demand on gold prices came as global stocks fall on profit-taking after hitting record highs last week, increasing demand on gold as a safe haven.
 
The dollar index, tracking the greenback against a basket of currencies, inched up to 100.84 from the opening of 100.82, with an intraday low at 100.73, and a high at 100.98.

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