(MENAFN- ProactiveInvestors)
In the first 15 minutes of spot gold trading for the week the yellow metal has edged up ten cents to US$1096 an ounce.
In the local money of Australian dollars gold is fetching close to A$1500 an ounce.
On Friday in New York gold for August delivery added 0.7% to US$1094.90 an ounce on the Comex.
For the month of July gold logged a 6.5% loss.
Expectations for a Fed rate hike—and the resulting strength in the U.S. dollar—have been credited with driving gold and other commodities lower.
Higher rates make commodities which offer no yield less attractive.
In other metals trade September silver added 0.3% to US$14.745 an ounce.
September copper lost 0.8% to end at US$2.36 a pound.
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