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Gold prices are rising fourth consecutive session , despite a sharp fall.
The euro rose against the U.S. dollar, and a weakening dollar has made a favorable buying gold .
Today we have published data from Markit Economics, which showed that activity in the U.S. service sector continued to grow steadily in December , albeit slightly lower than anticipated .
According to the report , the final index of business activity for the services sector amounted to 55.7 points in December , compared with the initial reading at the level of 56.0 points, and the final value of November at around 55.9 points . Experts had expected the index to remain unchanged - at the level of 56.0 points.
In addition, it was reported that the composite index , which covers the production and service sectors also fell slightly in December - to 56.1 from 56.2 in November. Nevertheless , the index indicates a strong increase of activity in the manufacturing and services sectors combined.
In turn, the December index of business activity in the U.S. service sector , calculated by the Institute for Supply Management (ISM) fell, while reaching the level of 53.0 , compared with the November reading at around 53.9 . According to experts , this indicator would grow to 54.6 .
All the basic sub - codes , apart from one in December remained on site expansion ( greater than 50 ) . The greatest impact on the reduction of sub- indices had orders and business activity. Growth was sub-index of employment and prices.
Cost February gold futures on the COMEX today rose to $ 1247.70 per ounce.
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