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Metal rose more than US $ 20 from Tuesday's low of US $ 1,237 an ounce
Gold hit its one-week high on Wednesday , after a seven – month rebound this week, for the dollar 's weakness and rising trade tensions, although the move was limited before the release of US employment data on Friday.
The dollar depreciated against the euro and the yuan. In this case, a lower dollar makes gold, which is quoted in dollars, cheaper for investors outside the United States.
"Gold has been falling for several weeks and as this (week) is the non-farm payroll, the dollar will likely remain in a range, so that participants take profits on the dollar and in the gold positions, "said Fawad Razaqzada, an badyst at Forex.com
. the currency rose 0.18% to US $ 1,254.98 an ounce after touching
US $ 1,261.10 ounce, a maximum of one week.
The metal rose more than US $ 20 Tuesday's low of US $ 1,237.32, its lowest level since December 12.
US gold futures for delivery in August rose 0.22% to $ 1,256.2 ounce
Global stocks were under increasing pressure before the start of the year. weekend deadline in Washington impose tariffs on Chinese imports for 34 billion dollars and the promise of response from Beijing the same day.
Gold is often considered a safe haven during periods of political and financial uncertainty. Markets await the minutes of the June US Federal Reserve meeting, to be released Thursday, and non-farm payroll data
on Friday to look for policy cues monetary.
Among other precious metals, silver lost 0.36% to US $ 15.97 an ounce, and palladium
rose more than 0.84% to 947, $ 1 an ounce. Platinum fell 0.02% to $ 836.8 US an ounce after falling to $ 793 US on Tuesday, its lowest level since December 2008.
US markets will remain closed Wednesday for the Independence Day celebrations.
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