Gold price down for 6th week in row

New York (Aug 18)  Gold prices rose slightly on Friday, but recorded its sixth consecutive weekly loses, declining by around $35.

A slip by the US dollar helped the yellow metal rise on the last trading day of the week by $0.2 to the level of $1,184.20 per ounce.

Meanwhile, gold registered a 2.9% weekly drop, its biggest since the week ended 5 May 2017.

Gold prices have now decreased by around 10% year-to-date, falling to capitalize on the rising geopolitical tensions, especially because of the dollar’s strong performance against major currencies.

MUbasher