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Gold prices recovered from losses but ended the week with losses

Gold prices recovered from losses but ended the week with losses

Silver trading range for the day is 39945-42483.Silver prices ended with gains as a U.S. Federal Reserve meeting and jobs data are slated in the week and are expected to set the tone US GDP grew 1.9% in the fourth quarter of 2016, disappointing expectations for 2.2% and after a 3.5% growth rate in the three months to September. Holdings at ishares silver trust gained by 0.23% i.e. 23.59 tonnes to 10444.47 tonnes from 10420.88 tonnes.

Gold trading range for the day is 27976-28572. Gold prices recovered from losses but ended the week with losses as strength in the dollar and recent all-time highs in major U.S. stock indexes dulled demand. Gold buying from China stopped ahead of its week-long holiday to celebrate the Lunar New Year. Gold found itself exposed to painful losses after the renewed investor risk appetite from the Trump effect.

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