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Gold on track to post second straight weekly gain on inflation risks

From financialpost.com

Gold was set to rise for a second consecutive week on Friday as inflation and geopolitical risks underpinned its safe-haven appeal, while strong demand and supply risks put autocatalyst palladium on course for its best week since March. Spot gold edged down 0.1% to $1,836.60 per ounce as of 10:17 a.m. ET (1517 GMT). U.S. gold futures fell 0.2% to $1,839.20. Silver fell 0.2% to $24.38, but was set for its best week in a year, up about 6.3%. “The bulls are in control because there’s definitely flight-to-safety going into the gold market this week,” said Bob Haberkorn, senior market strategist at RJO Futures. Market ... (full story)

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  • Category: Fundamental Analysis