Record highs and successive declines… gold in a week
Record heights achieved by Goldearly last week before it fell again, concluding with a successive decline.
It rose Gold prices reached their highest level in more than a week, last Monday, approaching their record peak, as geopolitical turmoil resulting from the US arrest of Venezuelan President Nicolas Maduro led to an influx of demand for safe assets.
Continued rise
The price of gold in spot transactions rose by 2.3% to $4,430.27 per ounce by 11:23 GMT, while gold futures contracts rose. In the United States (February delivery) by 2.6%, reaching $4,443 per ounce.
On Tuesday, gold prices continued to rise, hovering near record levels, with an increase in demand for safe assets in the wake of renewed geopolitical tensions with the arrest of the President of Venezuela, and expectations of a cut in US interest rates.
The price of gold in spot transactions rose by 0.3%, reaching $4,461.09 per ounce, by 1:00 p.m. 11:35 GMT, after rising by nearly 3% in the previous session.
Gold declined
But the decline soon began on Wednesday, as gold prices declined as investors took profits, and the price of gold in spot transactions fell by one percent, recording ($4,452.97) per ounce.
The week ended with a decline, as the rise in the value of the US dollar increased pressure on the prices of the yellow metal, which raised the cost of purchasing. For holders of other currencies.
The price of gold in spot transactions fell by 0.7% to $4,420.09 per ounce, by 12:28 GMT. US gold futures (February delivery) also fell by 0.8% to $4,427.70 per ounce.
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