After Friday's disappointing U.S. fundamentals, alongside instability overshadowing financial markets around the world, including stocks and commodities, we see precious metals stabilizing with general positivity. Gold was seen to enjoy the highest demand throughout last week despite of the decline seen along the week.
Gold managed to rise on Friday, where it closed at $1002.30 per ounce rising from 985.40; affected by demand helping it gain 0.24% after the decline it had witnessed. Instability and volatility across global financial markets and bearish movement for numerous equity indices and commodities last Friday pushed investors to look for other safer investments. Gold, for that, seemed to be the brightest metal of all after this pessimistic wave managed to overshadow financial markets, alongside the haziness surrounding the U.S. economy. Though the world’s largest economy has been providing signs of stability, yet the outlook does not look as strong as many hope and resuming growth remains to be surrounded with sluggish expectations.
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