gold

Gold prices jumped on Tuesday of the last trading week this year.

Gold prices hit 10-month low last week, kept declining for seven weeks, in its longest losing streak in more than 12 years.

February Comex gold was up $9.40 at $1,142.90 an ounce.

March Comex silver was up $0.236 at $15.995 an ounce.

Gold prices jumped despite the stronger dollar. The precious metal’s drop last week came as the dollar hit near 14-year high before pulling back, gold prices have fallen 4 percent in December weighed by higher interest rates and strong dollar.

The ICE Dollar Index which measures the strength of the greenback against a basket of six currencies, was up 0.1 percent at 103.03. It closed a week ago at 103.25, hitting its highest level since December 2002.

Gold prices also fell in December in part because Treasury yields hiked and the Federal Reserve signaled it may raise interest rate three times in 2017.

Although, precious metal’s price is mostly low now but 2016 was a good year for the gold.

In the first half of 2016, gold traded as high as $1,375, which turned out to be the yearly high.

This year, gold and silver had good gains as gold gained 6 percent and silver advanced 14 percent in 2016.

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