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Business

May 20, 2017

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Gold higher

Gold higher

Bengaluru

Gold prices edged higher early Friday and were on track for their biggest weekly gain since mid-April as the dollar softened and stocks eased amid the ongoing political crisis in the United States that weakened risk appetite.

Spot gold rose 0.3 percent to $1,250.20 per ounce by 0102 GMT. It slipped 1.1 percent on Thursday in its biggest one-day percentage drop since May 3 to snap a five-day rally.

The yellow metal was up about 1.8 percent for the week thus far. U.S. gold futures were down 0.2 percent at $1,250.40 an ounce.

The dollar traded above six-month lows against an index of six major currencies on Friday but was down 0.1 percent after gaining some reprieve overnight, helped by solid U.S. economic data. MSCI´s broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.

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