January 2 – 5: gold outlook
On Friday in the final trading day of 2017 a weaker US currency underpinned gold, letting this precious commodity reach a three-month maximum back above $1,300.
February delivery gold futures gained 0.61% being worth $1,305.10 in New York, demonstrating the highest close since September.
The number one precious metal has managed to earn 14% for the year, which is the largest yearly percentage profit since 2010.
Recent weakness in the US currency has underpinned gold by making the dollar-denominated precious metal more affordable for holders of other currencies.
On Friday, the US currency dived to its lowest value for more than three months versus a basket of the other crucial currencies and also reported its largest annual percentage sink since 2003.
Additionally on Friday, silver hit $16.98 a troy ounce, concluding 2017 with a 6 revenue%.
Palladium reported the strongest leap among precious metals of 2017, gaining 57% amid worries over the supply outlook.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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