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Gold Rises as USD Declines

M. Ali 18 December, 2020 1:19 am Commodities, Market Update

Gold prices rose on Thursday, amid a strong decline by the US Dollar (USD) after the release of the Federal Reserve policy statement, which vowed to continue easing the monetary policy.

Gold futures for February delivery added $31.30, or 1.7%, to close at $1,890.40 per ounce.

The yellow metal futures could not maintain the $1,900 per ounce level, a level which it exceeded earlier during today’s trade.

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