Gold surges

Bengaluru : Gold prices inched higher on Friday after hitting a six-month trough in the previous session, as the U.S. dollar pulled back from a 11-month peak on profit-booking. Spot gold was up 0.2 percent at $1,269.46 an ounce, as of 0644 GMT.

In the prior session, bullion touched $1,260.84, its lowest since Dec. 19, 2017. The yellow metal was, however, headed for a 0.7 percent decline for the week.

U.S. gold futures for August delivery were 0.1 percent higher at $1,271.50 per ounce. Gold has rebounded a little bit from the lower side due to the weakness in the dollar, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

A weaker greenback makes dollar-denominated gold cheaper for holders of other currencies. The dollar pulled back from an 11-month peak against a basket of major currencies on Friday.