Gold makes weekly gains and records the highest close in more than 6 years

    Gold hits weekly gains and records the highest close in more than 6 years Gold prices rose during the day and the precious metal achieved weekly gains and most of the highest level in more than six years, in light of fears of trade war and the decline of the dollar against most major currencies.


    US President Donald Trump said his administration would impose customs duties on its imports of Chinese goods worth $ 300 billion as of Sept. 1.


    He pointed out that these new fees differ from what is already imposed from the tariff of 25% on imports of Chinese goods worth 250 billion dollars.


    On the other hand, the US economy added 164 thousand jobs last month while the unemployment rate remained at 3.7% unchanged.


    Separately, the dollar index (against a number of major currencies) fell by 0.3% to 98.1 points by 16:46 GMT, hitting a high of 98.4 points and a low of 98.05.


    Gold futures for December delivery rose 1.8% to $ 1457.5 an ounce, the highest closing since May 2013. The precious metal gained a weekly gain of 2.7%, the highest at $ 1461.9 and the lowest at 1442.5. Dollars.

     

    Gold prices rose during today's trading and the precious metal gained weekly gains as well as most at its highest level in more than six years, in light of fears of trade war and the decline of the dollar against most major currencies.


    US President Donald Trump said his administration would impose customs duties on its imports of Chinese goods worth $ 300 billion as of Sept. 1.


    He pointed out that these new fees differ from what is already imposed from the tariff of 25% on imports of Chinese goods worth 250 billion dollars.


    On the other hand, the US economy added 164 thousand jobs last month while the unemployment rate remained at 3.7% unchanged.


    Separately, the dollar index (against a number of major currencies) fell by 0.3% to 98.1 points by 16:46 GMT, hitting a high of 98.4 points and a low of 98.05.


    Gold futures for December delivery rose 1.8% to $ 1457.5 an ounce, the highest closing since May 2013. The precious metal gained a weekly gain of 2.7%, the highest at $ 1461.9 and the lowest at 1442.5. Dollars.
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