MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: Jan. 29 –

MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: Jan. 29 – Feb. 2

MTECHTIPS-Gold prices ended lower on Friday but remained in sight of the previous day’s 17-month peak as the U.S. dollar was pressured by data pointing to slower U.S. economic growth and comments by a senior U.S. official backing a weaker currency. Gold futures for February delivery settled down 1.06% at $1,348.40 on the Comex division of the New York Mercantile Exchange. For the week, gold prices were up 1.43% after rising as high as $1,365.40 on Thursday, the strongest level since August 2016. The dollar remained lower after data on Friday showing that the U.S. economy grew by an annualized 2.6% in the fourth quarter, rather than the 3% expected, down from 3.2% in the previous three months. The greenback had already weakened broadly, falling to three year lows against a currency basket after U.S. Treasury Secretary Steven Capuchin said on Wednesday at Davis that a “weaker dollar is good for trade.” The dollar found some support after President Donald Trump said Thursday the U.S. currency would get “stronger,” appearing to contradict Capuchin’s comments. Trump added that he thought the remarks by his Treasury secretary had been taken out of context by investors. Capuchin’s comments were seen by markets as a departure from traditional U.S. currency policy. The risk of a weaker dollar is that it could undermine confidence in a wide swath of U.S. assets, including the U.S. Treasury market

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