Tokyo - Saba:
Gold prices rose during trading on Friday, heading for weekly gains supported by weak US economic indicators, which boosted demand for the yellow metal as a safe haven. This was in addition to the decline in the dollar, which increased gold's appeal to investors.
According to circulating data, the price of spot gold rose by 0.3% to $2,361.36 per ounce, recording a weekly increase of 2.3%. US gold futures also rose by the same percentage, reaching $2,384.40 per ounce.
This rise coincides with a decline in the dollar index, which is heading for a weekly loss, making gold more expensive for holders of other currencies.
Among other precious metals, spot silver fell 1.2% to $35.71 an ounce, while platinum rose 0.3% to $1,034.34, and palladium settled at $1,005.88, with all three metals expected to post weekly gains.
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