UNITED STATES, WASHINGTON (VOP TODAY NEWS) — Gold prices fell on Friday as stocks and the dollar rallied, but fears of a global economic slowdown and lack of clarity about the US-China trade war helped the precious metal post its third straight week of gains.
Spot gold fell 0.6 percent to $ 1,513.17 an ounce late in the trading session, but ended the week up more than 1 percent.
US gold futures fell 0.5 percent to settle at $ 1,523.60 an ounce.
Hopes for more official stimulus and a rebound in the bond market led a broad rally in US stocks at the end of a turbulent week.
The dollar index, which measures the value of the greenback versus a basket of six major currencies, rose to a two-week high.
Gold has risen more than $ 100 since the start of the month amid falling global bond yields, highlighting trade tensions and a series of disappointing economic data around the world.
Among other precious metals, spot silver fell 0.7 percent to $ 17.13 an ounce, but posted its second consecutive week of gains.
Platinum rose 1.1 percent to $ 848.00 an ounce, while palladium rose 0.3 percent to $ 1,448.83 an ounce.
This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.
Contact us: firstname.lastname@example.org
VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.
We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.