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Gold up on Lower Dollar, Shares After US Data; Set for Weekly Gain

Friday, January 9, 2015 10:13
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(Before It's News)

by Clara Denina
Reuters.com

LONDON, Jan 9 (Reuters) – Gold rose on Friday as the dollar and equities failed to react to a better-than-forecast U.S. jobs report, and the metal was set for the first weekly gain in four weeks as political uncertainty in Greece boosted demand for assets seen as safe.

Spot gold rose to a session high of $1,217.30 an ounce after the U.S. data, not far from a three-week peak of $1,222.40 hit on Tuesday. It was trading up 0.4 percent at $1,213.38 by 1506 GMT.

U.S. gold futures for February delivery rose 0.9 percent to $1,218.40 an ounce.

Spot prices were heading for a 2.5 percent weekly gain, snapping a three-week losing streak, mostly due to global equities slumping at the start of the week on worries over developments in Greece that could see it quitting the euro.

Continue Reading at Reuters.com…



Source: http://financialsurvivalnetwork.com/2015/01/gold-up-on-lower-dollar-shares-after-us-data-set-for-weekly-gain/?utm_source=rss&utm_medium=rss&utm_campaign=gold-up-on-lower-dollar-shares-after-us-data-set-for-weekly-gain

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