Gold soars to 1-month maximum as greenback declines

Gold soars to 1-month maximum as greenback declines

On Thursday, gold reached a one-month maximum, in holiday-thinned trade because weakness in the US currency backed the number one precious metal.

Comex gold futures rallied 0.28% being worth $1,295.00 a troy ounce, which is off its intraday maximum of $1,296.10 that appeared to be its highest outcome since November 29.

Gold futures were on the rise for a third straight trading session. Additionally, they were on track for weakly revenues of more than 1%.

Gold has derived benefits from recent weakness in the US currency in what many market experts are suggesting happens to be a case of selling off on the official news Donald Trump finally signed off on the long-awaited tax overhaul.

A weaker US currency makes gold cheaper for holders of foreign currency.

Additionally, silver surged 0.47% showing an outcome of $16.835 a troy ounce. As for platinum, this metal earned 0.25% trading at $930.30 a troy ounce.

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