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.
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.