LOC12:15
09:15 GMT
KUWAIT, July 5 (KUNA) -- Gold price increased in the past week's trades amid fall of the USD rate against other major currencies, the ASN Company said in a report.
The company, specialized in financial studies, said in the report that weak trading in the USD resulted in hiking the gold prices, thus compensating for losses the precious metal had incurred since start of the week.
The gold price rose to USD 1,167-1,169 per ounce after falling to USD 1,155 per ounce in the middle of the past week.
Record fall of the gold price was attributed to investors' abstention and search for more feasible businesses. (end)
smr.rk