PRECIOUS-Gold set for second weekly gain as dollar weakens

  • 10/22/2021
  • Source: Reuters
  • by: Arundhati Sarkar
PRECIOUS-Gold set for second weekly gain as dollar weakens
Oct 22 (Reuters) - Gold prices gained for a fourth consecutive session on Friday, and were on track for a second straight weekly gain as a weaker U.S. dollar and growing inflationary pressure boosted demand for the safe-haven metal.

Spot gold rose 0.6% to $1,793.59 per ounce by 1130 GMT, and was up 1.4% for the week.

U.S. gold futures gained 0.7% to $1,795.00.

The dollar index headed for a second week of declines, lending support to gold by making it more attractive for buyers holding other currencies.

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