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On Thursday, gold tacked on in Asia after an initial tiny revenue in the US dollar index was reversed and also favored purchasing of the dollar-denominated commodity with market participants still pondering over an evident switch in the American strong dollar policy by Steven Mnuchin, the US Treasury Secretary.
February delivery gold futures inched up 0.19% being worth $1,358.90 a troy ounce.
As for the US dollar index, it went down 0.06% rolling out a reading of 88.97.
On Thursday, in Davos Mnuchin will have an opportunity to give out a plausible clarification on a change from a long-standing firm dollar policy to a fresh approach.
Overnight, gold added abruptly underpinned by a tumble in the evergreen buck, while soaring fears of a US-China trade conflict powered a moderate leap in safe-haven demand.
The US currency was heavily pressured diving almost 1%, spurring demand for gold, right after Treasury Secretary Steven Mnuchin indicated his endorsement of a low greenback.
On Thursday, gold tumbled in the face of a stronger US currency, getting closer to a six-month minimum because the Fed Chair officially confirmed an outlook for higher interest rates in America…
On Wednesday, gold went down in the face of a steady greenback as well as firmer stocks…
On Tuesday, gold slumped because worries over a potential trade conflict made traders look for refuge in the greenback, raising a benchmark index for the US currency to its highest value of 2018…
On Friday, the major US currency was still steady, and the British pound dived a bit…
On Tuesday, the common currency demonstrated a one-week maximum because market participants added trading positions on a hawkish overnight statement by a policymaker, which reaffirmed bets the euro zone economy's outlook is still firm enough…
On Monday, the common currency stood on the defensive after Austria's election…
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