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Wednesday May 08, 2024

Gold climbs

By REUTERS
January 07, 2018

Bengaluru : Gold prices on Friday held near 3-1/2 month highs hit the session before to remain on track for their fourth-straight weekly gain, with attention turning to U.S. payroll data due later in the day.

Spot gold was down 0.1 percent at $1,321.86 an ounce at 0336 GMT. U.S. gold futures were up 0.1 percent at $1,323 an ounce.

Spot gold marked its highest since Sept. 15 at $1,325.86 on Thursday on a weaker dollar. It has risen 1.5 percent so far this week.

Weighed down by the greenback´s weakness against the euro, the dollar index against a basket of six major currencies was poised for a loss of 0.3 percent this week, during which it probed a three-month low of 91.751 .

"There are some new long-positions after gold crossed $1,300 and they are trying to push prices up. We can see people buying at corrections," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.