Gold ended the week up $33.29 at $1287.68 as a weaker dollar and sagging risk appetite lured buyers back into the market.
Gold prices rose $12.03 on Wednesday as the dollar weakened after U.S. President Donald Trump said the dollar was “getting too strong” and he would prefer the Fed keep interest rates low.
Gold prices settled at $1255.13 an ounce on Friday, gaining 0.55% on the week, as geopolitical concerns increased desire for safe haven diversification.
Gold prices rose in Asian trade on Friday after the U.S. launched missile strikes against Syria.
Gold started the week on a positive note, testing the $1261 level after prices climbed above the $1252/0 zone, but the failure to break through this barrier weighed on the market.
Gold markets had a very interesting couple of months, as we have bounced off the $1150 level, fell significantly during the past month, but found enough support at the $1200 level to turn things around and form a hammer.
Gold prices rose $6.45 on Monday, benefited from growing doubts over Trump’s economic plans.
Gold prices settled at $1245.10 an ounce on Friday, gaining 1.2% on the week, as a sell-off in the U.S. stock market and a lower U.S. dollar index boosted the yellow metal.
Gold snapped six consecutive days of gains as the greenback edged higher and global equities markets saw a modest rebound.
Gold prices edged down in Asian trade on Thursday as stocks firmed and the U.S. dollar recovered.
Gold prices ended Tuesday’s session up $10.33, extending their gains to a fifth straight session, as widespread falls in the global stock markets and continued weakness in the U.S. dollar fueled demand for the precious metal.
Gold prices rose $4.91 an ounce on Monday to settle at their highest level since March 3 as expectations of gradual rate hikes helped provide a lift to the metal.
Gold prices settled at $1229.28 an ounce on Friday, scoring a gain of 2% on the week, as the dollar came under pressure.
Gold rose for a second straight session on Thursday as weakness in the dollar bolstered demand for the precious metal.
Before the Federal Bank announced raising the US interest rates, the Gold prices were around 1200$ an ounce.