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Reuters
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The price of gold fell, during trading on Friday, as the dollar rose, but the yellow metal is poised to post its best weekly performance since late July.
Spot gold fell 0.5% to $ 1,939.10 an ounce at 6:18 am GMT. Prices rose 2.4% on Thursday on the weaker dollar, putting it on track to achieve its best weekly performance since late July.
While US gold futures fell 0.3% to $ 1,940.20 an ounce.
The decline in gold prices comes at a time when the dollar index is rising, rising 0.2%, reducing the attractiveness of gold for holders of other currencies.
Market analyst Kyle Roda said that over the past week the momentum in the gold market has shifted from being a hedge to a stimulus to simply profit from the dollar, “and because of this trading it moved back slightly “.
Source: “Reuters”
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