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New York, August 21 (QNA) – Gold prices rose to their highest level in over three months in Friday’s trading, on track for their third consecutive weekly gain, as the US Treasury’s bond-buying support plan negatively impacted the dollar.
Spot gold rose 1.6 percent to USD 4,590.51 per ounce, after reaching its highest level since May 15 at USD 4,604.18 earlier in the session.
US gold futures also climbed about 1.7 percent to USD 4,647, bringing the precious metal’s gains to five percent since the start of the week, after it reached its highest daily level since early February last Wednesday.
As for other precious metals, silver rose 2 percent in spot trading to USD 69.43 an ounce, platinum 3.8 percent to USD 1,897.36, and palladium 0.6 percent to USD 1,342.30. (QNA)
