Spot gold ends week steady as U.S. dollar softens


(MENAFN- ProactiveInvestors)

Gold prices steadied on Friday as the U.S. dollar softened while investors remained cautious ahead of Greece's referendum on an international bailout deal.

Liquidity was thinner with U.S. markets closed for the Independence Day public holiday.

Spot gold ended the week up 0.2% at US$1169 an ounce.

Gold has been under pressure this year from uncertainty over the timing of any rate increase which could boost the dollar further and dent demand for non-interest-paying bullion.

Silver fell 0.1% to US$15.67 an ounce while platinum dropped 0.4% to US$1076.75 and palladium lost 1.9% to US$679.10.

 

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