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Gold prices rise by $1

Gold prices rise by $1

Mubasher: Gold prices maintained its highest level in two weeks on Thursday.

The rise in the precious metal prices was supported by the wakened US dollar, after showed that American economy expanded less than expected in Q3-17.

Gold futures for February delivery rose by 0.08% or $1 to $1,270.60 per ounce.

Although gold prices are approaching their second weekly gain, a recent report by Goldman Sachs warned that it expects gold to fall to $1,200 an ounce by mid-2018.