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Local gold prices continued to rise for the second week in a row, as gold prices recorded a further 30 piastres hike on Saturday.
The recovery comes after gold prices stabilized Friday, concluding their best week in more than three years, at nearly $ 1,500 an ounce, thanks to easing monetary policies of major central banks, rising tensions between the United States and negative returns on government bonds around the world.
The selling prices of gold on local markets for Saturdays are as follows:
24 grams amounted to 35.50 dinars
21 grams were raised to 30.50 dinars
18 grams equivalent to 27.30 dinars
According to Reuters, the price of gold for immediate sale at the end of trading on the US market is $ 1497.20 an ounce, down 0.2% after crossing the barrier earlier this week. $ 1500 for the first time since April 2013.
Futures on US gold fell 0.1% to settle at 1508.50 dollars an ounce.
The yellow metal finished the week on gains of more than 4%, the largest since April 2016, bringing its gains since the beginning of the year to about 17% with a $ 100 rise last week.
Merrill Lynch, of the Bank of America, announced Friday that the precious metals fund had recorded the fourth highest inflow of funds of the week to Wednesday.
Among the other precious metals, silver rose 0.3% to $ 16.95 ounce, ending the week up nearly 5%.
Platinum settled about $ 860 an ounce, while palladium rose 0.3% to $ 1,425.11 an ounce.
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