Gold was trading near its highest since October on Friday, on track for its strongest weekly gain in a month as the dollar was pressured by growing doubts the Federal Reserve can stick to its interest rate hike campaign. A shaky global economy has lifted buying interest in gold, making it among the best performing assets with a year-to-date gain of nearly 9 percent. Other precious metals rode on gold's rally, with silver and platinum also at multi-month highs. Silver is eyeing its best week since May last year.
Spot gold was flat at $1,154.50 an ounce by 0629 GMT, after peaking at $1,157.20 on Thursday, its highest since October 29. Gold has gained more than 3 percent so far this week, on course for its biggest such increase since early January. US gold for April delivery eased 0.2 percent to $1,155.20 an ounce.
Comments
Comments are closed.