-
Gold set for best weekly gain since Nov as U.S. dollar, yields ease
Gold prices were set for their biggest weekly rise since November on Friday, bolstered by a weaker dollar and lower Treasury yields, while traders awaited more economic data for clarity about the Federal Reserve’s tapering timeline. Spot gold rose 0.2% to $1,826.51 per ounce by 0624 GMT, and has added about 1.7% so far this week. U.S. gold futures were up 0.3% at $1,826.80.“Weakness in the U.S. dollar is supporting gold, which is likely to continue rising today,” said Kunal Shah, head of research at Nirmal Bang Commodities. With the resurgence in COVID-19 cases, uncertainty over the impact of the upcoming ... (full story)