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Gold Closes at Highest Level in Seven Weeks

M. Ali 7 November, 2020 12:42 am Commodities, Market Update

Gold prices rose on Friday to their highest level in seven weeks, supported by the decline of the US Dollar (USD) amid the uncertainty surrounding the results of the United States presidential elections.

Gold futures for December delivery gained $4.90, or 0.3%, to close at $1,951.70 per ounce.

This is the highest closing level for gold futures since September 18.

For the week, the yellow metal futures increased by 3.8%, achieving the best weekly rise since the end of July.

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