Beijing: Gold prices rose by more than one percent on Friday, supported by buying activity, but are on track for their fourth consecutive weekly loss due to rising energy prices and growing concerns about inflation and rising global interest rates. Spot gold rose 1.1 percent to $4,428.30 an ounce, but the precious metal has fallen by about 1.3 percent since the beginning of the week, according to the Oman News Agency. According to Yemen News Agency, US gold futures for April delivery also rose 1.1 percent to $4,423.40. The dollar weakened, making dollar-denominated gold cheaper for holders of other currencies. As for other precious metals, spot silver rose 1.1 percent to $68.80 an ounce, while spot platinum gained 2.1 percent to $1,865.13, and palladium climbed 2.7 percent to $1,389.80.
Related Articles
Euro Falls as US-EU Trade Deal Fails
New york: The euro was last traded at $1.1594, marking a 1.3 percent decline in the previous session. This represents its biggest daily percentage drop in more than two months, driven by concerns over economic growth and decreased eurozone government …
China Suspends Rare Earth Export Controls for Year
Beijing: China has suspended a series of export controls that were implemented on October 9, affecting certain rare earth materials and minerals, lithium battery materials, and ultra-hard materials. These suspensions are effective immediately and will…
China Levies Anti-Dumping Duties on Canadian and Japanese Rubber Products
Beijing: China has imposed additional anti-dumping duties of up to 30.1% on rubber products from Canada and Japan, effective Saturday, for a period of five years.
According to Yemen News Agency, the Xinhua News Agency reported on Friday that the Ch…