Gold prices inch up to 2-week peak
On Thursday, gold prices added to a two-week peak amid low-volume holiday trading, as the greenback and global stock markets pulled back, driving the appeal of the yellow metal.
In New York, February delivery gold futures added to a session high of $1,151.30 a troy ounce, an outcome not observed since December 14.
Trade is supposed to remain thin for the rest of the week as most market participants are away for year-end holidays.
The greenback edged down on Thursday, declining from its 14-year-peak against a basket of six main currencies, as market participants took profits in the run-up to the end of 2016.
Meanwhile, European as well as Asian stock markets decreased in wake of a downbeat performance on Wall Street overnight, where stocks dipped across the board with the S&P 500posting its largest daily decline since October 11.
Market experts warned that the outlook for gold remains quite cloudy in the near-term, considering hopes for higher American interest rates in the months ahead.
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