Metals Stocks: Gold declines, paring its weekly gain as the dollar rebounds from 2-month low [MarketWatch]
IHS Markit Ltd. Common Shares (INFO)
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Source: MarketWatch
Gold declines, paring its weekly gain as the dollar rebounds from 2-month low Gold prices declined on Friday, paring their weekly gain as the leading dollar index attempted to bounce back from two-month lows. Overall, markets were treading water ahead of next week’s Federal Reserve gathering, at which the central bank is expected to lift a key interest rate and update its policy outlook. December gold The dollar index DXY, +0.34% was up 0.3% at 94.172, shaving a portion from its weekly slide, which stands at about 0.8%. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Gold prices remained lower, but edged up from the day’s low of $1,196, after IHS Markit reported that its flash index covering service oriented companies dipped to an 18-month low. On Thursday, the metal logged its eighth straight day above the $1,200 line that analysts have monitored as an indication that gold could strengthen its advance from here. Prices, based on the most-
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