Gold closes higher, but posts over 1% weekly loss

2020-05-22 22:15:18 GMT (Economies.com)
Gold closes higher, but posts over 1% weekly loss

Gold prices rose on Friday, despit the US dollar rise against most currencies, on safe haven demand amid fears over a renewed tensions between the US and China.


The White House Health Adviser Anthony Fauci stressed today on the importance of reopening the US economy, or the coronavirus impact will be more than expected on the long term.


The US has officially accused China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims.


The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 21:04 GMT, after it hit a high of 99.8 and a low of 99.3.


Gold June futures rose 0.8% to close at $1,735.5 an ounce, but lost 1.2% this week, with a day high of $1,742 and a low of $1,722.5.

 
 
 
  Symbol Last Change Chg.%
1.1674
0.0003
0.0227%
1.2864
-0.0004
0.0284%
Tadawul
8334.65
20.45
0.25%
23.625
0.270
1.154%
40.489
0.199
0.494%
42.43
0.51
1.22%
1882.110
9.415
0.503%
 
 
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