Gold futures edged slightly higher early Friday, as a weaker U.S. dollar has helped the precious metal on a path toward its first weekly gain this month.
December gold added $3, or 0.3%, to $1,211.20 an ounce, with the precious metal on pace to book a weekly rise of about 0.9%, representing its first weekly gain for a most-active contract since the period ended Aug. 31, according to FactSet data and based on last Friday’s close. A close at its current level would mark its best since Aug. 29.
Gains for bullion have come as the U.S. dollar has slumped by about 0.9% at 94.48 thus far this week and weakened to a two-week low, as measured by the U.S. ICE Dollar Index a gauge of the buck against a half-dozen currencies.
Source : Market Watch