Gold climbs above $1,700 an ounce for the first time in a month

Chintan Karnani, director of research at Insignia Consultants in New Delhi, attributed the rise in gold prices to weakness in the dollar, as well as “technical buying” as gold managed to trade above its 50-day moving average. The 50-day moving average for December gold stands at $1,680.99, according to FactSet data.

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