Gold is heading towards its best week on Friday in almost five months, supported by the decline of the US dollar, which increased the attractiveness of the yellow metal despite an imminent reduction of the stimulus measures adopted by the Federal Reserve.
And gold fell 0.2% to $ 1792.54 an ounce, but rose 2% over the week. US gold futures fell 0.3% to $ 1,793.10 an ounce.
The dollar index headed for its first weekly decline in six weeks, increasing gold’s appeal to buyers of other currencies.
As for other precious metals, silver fell 0.4% to $ 23.45 an ounce, but is about to post the largest weekly increase in seven weeks.
Platinum rose 0.1% to $ 1,056.02 an ounce and palladium rose 0.4% to $ 2,137.68 an ounce.
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