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Gold rises, poised for weekly gain on softer US dollar

From brecorder.com

Gold prices edged higher on Friday and were poised for a weekly rise, supported by a weaker dollar, although gains were kept in check by hawkish comments from U.S. Federal Reserve officials dousing hopes of an interest rate cut in December. Spot gold was up 0.4% at $4,188.93 per ounce, as of 0200 GMT. Bullion is up 4.8% so far this week. U.S. gold futures for December delivery were steady at $4,191.90 per ounce. The dollar index was headed for a second straight weekly fall against its rivals, making gold more attractive for other currency holders. “This week, gold has done well and it’s mainly because of a bit of a ... (full story)

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  • Category: Fundamental Analysis