Trade
6 years ago

Global gold price rises as dollar weakens

File Photo (Reuters)
File Photo (Reuters)

Published :

Updated :

Gold price edged higher on Friday as the dollar weakened as investigators looking into possible Russian interference in the US presidential election.

Spot gold was up 0.2 per cent at $1,281.51 per ounce, as of 0811 GMT. It is up about 0.5 per cent for the week, poised to post a second straight weekly gain.

US gold futures for December delivery rose 0.3 per cent to $1,281.80, reports Reuters.

Spot gold is biased to rise above a neutral range of $1,270-$1,286 per ounce, and gain further towards $1,298, according to technical analyst Wang Tao.

The dollar index against a basket of six major currencies was down 0.2 per cent.

Silver was nearly unchanged at $17.087 an ounce, platinum rose 0.4 per cent to $934.30 and palladium gained 0.7 per cent to $994.50.

For the week, silver has risen 1.1 per cent, in what could be its best week in five. Platinum is up 0.9 per cent, heading for a third straight weekly rise, while palladium is almost unchanged.

Share this news