Gold is at its lowest level in more than 7 months

Gold posted its lowest level in more than seven months on Friday, and the precious metal is now on track to post its worst weekly performance since late November, as the attractiveness of the yellow metal has waned.

In spot trades, gold fell 0.2% to $ 1,771.16 an ounce at 7:06 am GMT after hitting its lowest level since July 2 at $ 1,759.29 earlier in the session. .

While US gold futures fell 0.3% to $ 1,769.20 an ounce.

Experts said that “prices have recovered after reaching the technical support level of $ 1,760, which is why we are seeing some recovery.”

Source: Reuters

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