Gold rose 0.2%, heading to record the best weekly performance

Singapore, Mar.3 (BNA): Gold prices rose today, Friday, heading to record the largest weekly increase since mid-January, with the decline of the dollar, and at a time when dealers are evaluating the possibilities that the Federal Reserve (the US central bank) will continue to raise interest rates.

Gold in spot transactions increased 0.2% to $1839.39 an ounce, up about 1.6% during the week so far, while US gold futures rose 0.2% to $1844.80.

The dollar index fell 0.2%, heading for its first weekly loss since January, making the yellow metal less expensive for buyers of other currencies.

As for other precious metals, silver increased in spot transactions by 0.5% to $21 an ounce, platinum rose 0.4% to $963.90, and palladium rose 0.4%, recording $1,454.99.

Source: Bahrain news Gazette

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