Gold slips from highs but remains supported

Gold retreated from seven week highs of $1204 on Friday as U.S dollar gained some strength back, but continued political uncertainties in U.S supported the yellow metal demand.
Dollar found some demand after comments made by Federal Reserve Chair Janet Yellen on U.S economy and labor market looking strong.
But the dollar still remained under pressure post President Elect Donald Trump’s conference where he failed to offer details on his promises to boost fiscal spending and cut taxes.
Gold found support at $1187.5 before rebounding towards $1196.


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