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Gulf Today Report
Gold prices slump on Friday, its second week falling due to the announcement of COVID-19 vaccine and US Treasury working on ending emergency loan programs.
Spot gold dipped 0.1% to $1,866.28 per ounce by 0611 GMT and was down 1.1% for the week. US gold futures were up 0.3% at $1,867.90.
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Gold, which serves as a shield against inflation and currency debasement has advanced by 23% this year. This was due to the stimulus injected into the economy.
Stephen Innes, chief global market strategist at financial services said, "It's going to be a huge bumpy ride (for gold) waiting for stimulus to come in. It is now looking at $1,900 into year-end."
Silver rose 0.1% to $24.12 per ounce. Platinum and palladium gained 0.4% to $955.09 and $2,333.69, respectively.
Spot gold was up 0.1% at $1,777.30 per ounce by 0949 GMT. U.S. gold futures fell 0.3% to $1,784.30 per ounce.
Spot gold was up 0.2% at $1,773.41 per ounce by 0506 GMT. Prices were $5.65 shy of a near eight-year high of $1,779.06, hit last week. U.S. gold futures rose 0.5% to $1,788.40 per ounce.
Spot gold was steady at $1,772.14 per ounce by 0703 GMT, just $6.92 shy of a near eight-year high of $1,779.06 hit last week. U.S. gold futures rose 0.3% to $1,787.30. Bullion, with quarterly gains of more than 12%.
Spot gold hit its highest since early October 2012 at $1,788.96 in early trade, and by 0958 GMT was at $1,787.31 per ounce, up 0.4%. U.S. gold futures were up 0.3% at $1,805.10 per ounce.
World shares rose to just below record peaks on Tuesday after factory surveys boosted expectations of a recovery from the COVID-19 downturn, with drugmakers seeking fast approval for vaccines and authorities looking
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