Tokyo - Saba:
Gold prices rose slightly on Friday, heading for a weekly gain supported by reports that China, the largest consumer of gold, has resumed its purchases and growing expectations that the Federal Reserve (the US central bank) will cut interest rates at its meeting on December 17 and 18.
According to Reuters, gold in spot transactions rose 0.3 percent to $ 2688.29 an ounce. And heading for a weekly gain of more than two percent.
US gold futures settled at $ 2711.30.
Gold prices fell more than one percent on Thursday amid profit-taking after briefly hitting a five-week high earlier in the session.
In other precious metals, silver settled at $30.94 an ounce. Platinum rose 0.4 percent to $933.65. Palladium fell 0.1 percent to $969.09.
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