The price of gold reaches a maximum of 6 years, while the dollar weakens



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Gold marked its best week in three years and its best price in almost six, raising its price by $ 80 in the past few days to over $ 1,400 an ounce for the first time since September 2013.

In detail, spot gold increased by more than 1.5% to reach $ 1,410.78, a price that at 03:05 GMT fell by four dollars.

This upward trend was accompanied by a weakening dollar, Which sank in front of a number of currencies in the pessimistic expectation that the US Federal Reserve. reduce interest rates.

Both phenomena are interrelatedAs the price of the precious metal is in dollars, when the American currency falls, gold is cheaper for those buying in other currencies and therefore may increase demand.

As reported by Reuters, the current tensions Middle East they also contributed to the precious metal price increase by 5% during the week and by almost 10% so far this year.

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