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Gold price snaps two-week fall

February 18, 2018

New York (Feb 18)  The yellow metal can remain in a sideways range before the uptrend resumes. After falling sharply for two consecutive weeks, gold prices made a strong recovery last week. Spot gold prices surged over 3 per cent intra-week to touch a high of $1,362 per ounce. However, it came off from this high and closed at $1,347, up 2.3 per cent for the week. The dollar index — which was recovering earlier this month — made a sudden downward reversal last week. The index fell about 1.5 per cent from around 90.4 and closed the week at 89.1.

Reuters

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