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Gold prices are moving in a narrow range and go to the second weekly increase



Gold prices fell sharply on Friday, amid investor caution before the G20 summit next week, as it is expected that the leaders of the United States and China will discuss a trade dispute between the two countries.

The yellow metal goes to the second in a row as the dollar falls to make gold denominated cheaper for holders of other currencies.

Top gold fell 0.1 percent to $ 1,224.34 per ounce by 08:01 GMT, but rose 0.2 percent over the week.

Gold fell 0.3 percent in US futures to $ 1,224.70 an ounce.

Chinese President Xi Jinping is expected to hold talks with his American counterpart Donald Trump during the G20 summit, which begins on November 30 in Argentina.

“The next G-20 summit will focus on assessing the level of trade tensions between the United States and China,” said John Sharma, economist at the National Bank of Australia.

The dollar index declined after reaching a 16-month high at the beginning of this month, as the prospect of a global economic downturn raised doubts about the US Federal Reserve rate hike next year.

Among other precious metals, silver fell 1.3 percent to $ 14.30 per ounce, while platinum fell 0.2 percent to $ 842.40 per ounce.

Palladium fell 0.6 percent to $ 1,146 per ounce. Metal goes on the biggest weekly decline in percent from the week ending July 20, by about 3 percent


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