The week was volatile for gold. Gold acted weak on Monday but later picked momentum by the end of the week, ultimately closing the week higher and notching a third straight week of gains.
On Monday, gold prices ended slightly lower and pulled back from the positive gains witnessed last Friday. A stronger US dollar weakened the gold and silver markets.
But later in the week gold manages a rise above $1200 even though the dollar gained. Even though the negative news from China surface and as the ECB started to buy asset-back securities as a part of the stimulus program, dollar strengthened.
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