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Singapore, August 21 (QNA) – Gold prices held steady in early Asian trading on Friday and are on track for a third consecutive weekly gain, bolstered by a weaker US dollar.
Spot gold traded virtually unchanged at $4,514.23 per ounce, after touching its highest level since early June in the previous session. The precious metal has gained approximately 3.2% since the start of the week.
US gold futures settled at $4,571.20 per ounce.
In other precious metals, spot silver remained steady at $68.03 per ounce, platinum advanced 1.1% to $1,846.29, and palladium stood at $1,333.11. All three metals are set to record weekly gains.
The US dollar is heading toward a weekly decline, rendering dollar-denominated commodities more attractive to buyers holding other currencies. (QNA)
