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Gold marks best settlement in nearly 2 weeks after the dollar’s recent retreat

“A weaker buck can make assets pegged to the currency, including gold, more attractive to buyers using other monetary units” writes Markets Commodities Reporter for marketwatch.com. Gold futures prices climbed Monday, with the recent retreat in the U.S. dollar helping to lift the metal to its strongest finish in nearly two weeks, as investors tested key chart territory for bruised bullion.China is one of the world’s biggest buyers in metals, including gold.The dollar index has posted gains in each of the last three months, while gold futures fell in April, May and June.Yet, gold futures at the start of last week had hit their lowest levels of 2018, knocked lower by a strengthening dollar.
Source: marketwatch.com

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