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Weekend World Gold & Doller Analysis

Gold extends recovery from three-week trough as dollar stalls

Gold prices rose in European trade on Friday away from three-week lows and away from the barrier of $1,900, as the dollar stalls against major rivals.

Prices are also boosted as global central banks prepare to end the current cycle of policy tightening, with the European Central Bank hinting at ending interest rate hikes this week.

World Gold Prices
Gold prices rose 0.5% to $1,923 an ounce, with a session-low at $1,909, after rising 0.2% on Thursday, the first profit in three days, away from a three-week low at $1,901.  

The Dollar
The dollar index fell 0.2% on Friday, on track for the first loss in four sessions off six-month highs at 105.43 against a basket of major rivals.

The dollar fell as well ahead of crucial US industrial production data for August, in addition to inflation forecasts and consumer confidence data. 

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