Friday , October 22 2021

Home Economics Gold records the highest weekly loss in a month


Gold prices fell to a two-week low against the dollar, backed by strong US economic data, and posted the biggest weekly loss in a month, Sky News said.

Spot gold fell 0.7 percent to $ 1,277.21 an ounce late in the session after falling at the beginning of the session to $ 1274.51, the lowest level since May 3.

The yellow metal closed the week down 0.6%, the biggest weekly loss since April 19, and the US gold contract fell 0.82% to stabilize at $ 1,275.70 an ounce.

The dollar index rose 0.2% to close to a two-week high against a basket of major currencies, making gold more expensive for holders of other currencies.

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