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Gold prices declined on Friday, but tensions around the DPRK rendered support

Gold prices declined on Friday amid a recent profit-taking rally, while investors are awaiting a US employment report that may shed light on interest rate dynamics.

02.Sep.17 2:52 PM
By Daria Zaytseva


Gold prices declined on Friday, but tensions around the DPRK rendered support

At the same time, the demand for a safe haven was supported by quotations at the level of nine and a half months against the backdrop of continuing tension around the DPRK.

At 12.35 GMT, gold traded at $ 1.3183 for the troy ounce, compared to $ 1.321.60 an ounce at the close of trading on Thursday, staying near the peak reached on Tuesday for more than nine months at $ 1.325.94, and were preparing to show a weekly increase of more than two percent .

Gold futures in the US rose by $ 1.4 to $ 1.323.5 an ounce.

Asian stocks closed Friday's trading growth, copying the dynamics of Wall Street, while the dollar slowed growth on the eve of publication of data on employment in the US.

The US employment report, excluding the agricultural sector, will be published before the Fed meeting and may affect the timing of the rate hike. Two American supersonic bomber B-1B conducted exercises together with South Korean and Japanese fighters over the territory near the Korean peninsula on Thursday, two days after the DPRK increased tensions in the region by launching a missile over Japan.

Silver traded at $ 17.48 per ounce compared to $ 17.56 by the close of trading on Thursday, platinum was worth $ 992.24 compared to $ 995.00, palladium at $ 933.35 versus $ 933.50.

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