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Gold prices hit their one – week high last week, after a seven – month low, supported by the weak dollar and rising trade tensions, although increases in US interest rates may have held back gains. While the yuan rose for the second session with the support of the Chinese central bank, after reaching its 11-month low this week
The weakening of the dollar makes gold in US currency less expensive for holders of other currencies. Up 0.3% to 1,256.6 tonnes per ounce after hitting the highest level in a week at $ 1,241.10. The yellow metal jumped over $ 20 after peaking at $ 1237.32 on Tuesday, its lowest level since December 12.
Gold futures in August rose 0.4% to $ 1258.10 ounce
Among other precious metals, silver was up 0.1% at $ 16.03 an ounce and 0.7% palladium at $ 946 an ounce
Platinum came in at $ 837 an ounce after falling Tuesday. At its lowest level since December 2008 at $ 793.
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