Gold up to its last 6-month high again

gold up

Today, Friday, after a week of ups and downs in major world market indices, commodities, and metals, if there is one asset that stands out it is gold. Yesterday, Thursday, during the U.S. trading session, after opening at 1,787.09$ per ounce, it closed the trading session at 1,814.55, putting the finishing touch to a week that has meant more shine for the asset.

This increase of almost 3% signals for the yellow metal its best figure in the last two and a half months and its best week in the last 6 months. A weaker dollar and the 1.6% retreat in Treasuries – probably caused because of former Fed Chair Janet Yellen’s statements on inflation – resulted into a good week for the safe haven asset.

Gold has broken through the $1,800 barrier and will be put to the test during today’s trading session as investors patiently await today’s NFP data. The NFP is expected by some analysts to increase to 950K.

Silver recorded its best week in the last three months, closing at $27,309 during Thursday’s U.S. trading session. Platinum closed above its opening price at $1,255.34 and palladium ended the trading session at $2,956.23.

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