Gold rises on weaker dollar

AFTER three days below US$1320 an ounce, gold has made a slight comeback.

Gold rises on weaker dollar Gold rises on weaker dollar Gold rises on weaker dollar Gold rises on weaker dollar Gold rises on weaker dollar

Gold futures closed at $1325.30/oz after trading in a range of $1316 to $1330/oz during the course of the day.

It comes as the US dollar fell and Wall Street rallied strongly.

The Australian dollar gold price was at A$1683/oz.

In base metals, copper rose by 1.1% to US$6788 per tonne, coming off the 2017 low set on Friday.

Nickel also rose by 1%, breaking back through $13,000/t.

While lead and zinc were slightly lower, commodities across the board on Monday were mostly positive.

According to Bloomberg, Citi is still positive on commodities ahead of Chinese New Year.

“No other country has grea...

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