gold prices

Thursday, as dollar kept pulling back from its 14-year rise, gold prices hit its highest level in a month.

Spot gold reached $1,179.36 an ounce, up by $1.4 percent, its highest since early December.

Spot prices may see a two percent rise in the week boosted by paused hike of the dollar.

U.S. gold futures jumped $6.90, to reach $1,172 an ounce.

Silver prices followed the trend, Spot silver hit $16.54, up by 0.7 percent, after hitting a 3-week high of $16.70.

The dollar declined 0.2 percent against a basket of its major peers.

Palladium, recorded its biggest hit in 6 months, with a 7.8 percent increase so far.

Palladium sales are related to the car market as it is used to clean exhaust emissions from gasoline-powered catalysts and has been bought upon expectations of record high vehicle sales in the U.S., the weaker dollar helped in boosting the price of the Palladium.

U.S. car sales December data on Wednesday showed sales of new cars and trucks up to a record in 2016.

Platinum also hiked to hit close 8-week high of $960.10.

The Federal Reserve was confident to hike interest rates back in November, for the first time in a year, on anticipations of a more growing economy and will observe closely to decide when to hike the rates again in 2017.

Following the Fed’s decision, Spot gold prices declined more than 8 percent to touch a 10-month low late November, dollar reached a peak of a 14-year high and the U.S. Treasury yields gained firmly upon the Trump-win

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