Gold futures headed higher Friday morning as weakness in the U.S. dollar helped to prop up the yellow metal ahead of a policy update from the Federal Reserve due in the middle of the week and a U.K. general election that could roil markets.
February gold on Comex picked up $3.70, or 0.3%, to trade at $1,468.90 an ounce, after declining 0.5% last week. March silver meanwhile, added 8 cents, or 0.5%, at $16.680 an ounce, following a weekly decline of 3%, according to FactSet data.
On Monday precious metals, after sinking hotter-than-expected U.S. jobs report on Friday, appeared to be at least partly buoyed by economic reports out of China that showed that the world’s second-largest economy continued to be hurt by trade conflicts and a global economic slowdown.
Source : Marketwatch