• MTS Gold Morning News 20171228

    28 Dec 2017 | Gold News
       

• Gold prices inched up on Wednesday as the dollar dipped, but moved in a range as investors stayed away in a holiday-thinned week, while palladium extended gains after touching a 17-year peak.

• Spot gold rose 0.1 percent to $1,284.10 an ounce as of 0729 GMT, after hitting its highest since Dec. 1 at $1,284.70.

U.S. gold futures were also up 0.1 percent to $1,289.30 an ounce.

• "Technically, the 38.2 percent of the move down from the 2017 high of $1,357 comes in at $1,282. The 100-day moving average is at $1,286. So, these levels will be watched for further moves," said Amit Kumar Gupta, portfolio management services head at Adroit Financial Services.

• Among other precious metals, spot palladium rose over 1 percent to its highest since February, 2001 at $1,069.50 per ounce.

• Spot silver rose 0.3 percent to touch its best since late November at $16.58.

• Platinum edged up 0.5 percent to hit a three-week high of $923.90.

Reference: Reuters
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