Gold rises due to weaker dollar and a loss of momentum in equities

The prices of gold went up on Thursday, continuing the last session’s four-month high, thanks to a weaker dollar as well as the loss of momentum in equities.

U.S. gold futures went almost unchanged at $1,319 per ounce.

Spot gold gained 0.1 percent and was at $1,318.49 per ounce. On Wednesday, it reached a four-month high of $1,326.56 per ounce.

Holdings of SPDR Gold Trust, went down by 0.35 percent to 828.96 tonnes on Wednesday.

The prices of gold recovered from their losses on Wednesday and gained 1 percent as the dollar fell following a report that officials from China had suggested cutting down or stopping on buying U.S. Treasury securities

Prices of oil close to 3-year highs due to tighter market in the U.S.

The prices of oil remained close to its highest in three years on Thursday, supported by a decrease in crude production in the United States as well as the lower inventories.

Futures for Brent crude, the global benchmark for the prices of oil were at $69.14 per barrel. This price was near the high from yesterday of $69.37 per barrel.

Futures for U.S. West Texas Intermediate crude were down by 4 cents at $63.53 per barrel. It was still near $63.67 per barrel, its December 14 high.

Oil prices were mostly supported by the OPEC-led production cut that began in January 2017 and will continue well until the last month of 2018.
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