Gold rises for the third week with the decline of the dollar

London – Harmony:

Gold prices rose and posted gains for the third week in a row, supported by the lower US dollar and technical factors.

Gold futures advanced 0.1% to $ 1226.47 at the end of the session in the United States.

US gold contracts fell $ 1.4, or 0.11%, to settle at $ 1228.70 an ounce The yellow metal finished the week on gains of 0.7%.

A recent equity market sell pushed investors to seek safety in gold, driving up precious metal prices to a record $ 1233.26 higher in two and a half months this week.

But stock markets have resumed today, which dampens gold gains.The precious metal was also supported by a slight decline in the dollar, which fell 0.2% against a basket of major currencies, pulling out of the highest level recorded a week earlier.

Gold is considered a store of value in times of political and economic uncertainty.Among the other precious metals, spot silver rose 0.3% to $ 14.60 an ounce.

Platinum climbed 0.7% to $ 831.60 an ounce, but ended the week down 0.6%.Palladium rose 0.9% to $ 1080.25 an ounce, ending the week with gains of 1.6% after two consecutive weeks of losses.