Gold is set to achieve weekly gains for the third time in four weeks on Friday, as the lack of tangible progress in peace talks between Russia and Ukraine led to a rise in the price of the precious metal, which is considered a safe haven, despite the rise in US bond yields on the back of fears of monetary policy tightening measures that affected the attractiveness of the alloy.
And gold settled in spot transactions at 1958.41 dollars an ounce by 0610 GMT, hovering near the highest level in more than a week, which it reached in the previous session, up about two percent so far this week. US gold futures fell 0.2 percent to 1958.70 dollars.
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