Twilight News

Rise in gold prices and the decline of the dollar

Gold prices rose on Friday, heading for the best weekly performance in the last 15 weeks, as the dollar fell on speculation the Federal Reserve’s intention to ease monetary tightening.

According to Reuters, markets are currently waiting for job data in US non-farm sectors expected to be published later in the day.

Meanwhile, gold futures rose 0.1% to $ 1238.37 an ounce, after hitting a five-month high of $ 1244.32 an ounce in the previous session.

With a 1.5 percent gain this week, gold seems to be heading for the best gains since August 24.

The yellow metal in US futures also rose to $ 1243.8 an ounce.

Meanwhile, the dollar on the bourses faces difficulties as it is under pressure from concerns over long-term Treasury yields.

For other precious metals, silver was little changed at $ 14.47 an ounce, while palladium declined 1% to $ 1197.76 an ounce.

Platinum rose slightly to $ 787.30 an ounce, continuing losses for the fifth week in a row and platinum fell about 1.3% this week. Source