MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook:July 24-28

MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook: July 24 – 28

MTECHTIPS-Gold prices rose for a sixth straight session on Friday, to notch up the largest weekly gain in two months as the U.S. dollar slid to its lowest level in more than a year, underpinning demand for the precious metal. Gold for August delivery closed up 0.72% at $1,254.48 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 1.97%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ended down 0.32% at 93.78, the lowest close since June 22, 2016. The index ended the week down 1.32%, marking its second straight weekly decline. A weaker dollar tends to boost prices for gold, which is denominated in the U.S. currency. The greenback was pressured lower by the stronger euro, which was boosted by expectations that the European Central Bank is moving closer to tapering its bond-buying program and fresh political turmoil in Washington. On Thursday, Bloomberg reported that the investigation into alleged links between President Donald Trump’s campaign and Russia in last year’s election is extending into his business

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