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Gold prices hit six-month high on weak US dollar

Gold prices hit a more than six-month high on Monday, firming above the US$2,000 per ounce level, as a weaker dollar and expectations of an end to US interest rate hikes lifted demand.

Gold prices are well above their 50-, 100- and 200-day moving averages and are around $60 away from August 2020's all-time high of $2,072.49.

Spot gold was up 0.6 percent at $2,013.99 per ounce after reaching its highest since May 16. US gold futures also rose 0.6 percent to $2,015.00.

The dollar eased 0.2 percent against a basket of major currencies, hovering around a more than two-month low touched last week and making gold less expensive for holders of other currencies


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