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Gold rises on softer dollar, but on track for fourth weekly drop
but was on track for a fourth straight weekly decline as surging energy prices fuelled inflation concerns and raised expectations of higher global interest rates. Spot gold rose 1.1% to $4,428.30 per ounce as of 0228 GMT, but bullion has fallen about 1.3% so far this week. US gold futures for April delivery gained 1.1% to $4,423.40. The dollar eased, making greenback-priced bullion cheaper for holders of other currencies. “For weeks, gold has been treated as a liquidity asset sold to cover volatility and margin calls elsewhere, but at current levels, it is now looking more like a value proposition for ... (full story)
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