Gold prices are heading to achieve their largest weekly gains in seven weeks today, Friday, with the decline of the dollar and US Treasury bond yields, while traders await key data on US jobs to be released later to speculate on when the Federal Reserve may begin cutting interest rates.
By 0335 GMT, gold in spot transactions recorded $2,053.89 per ounce. The metal rose 1.8 percent this week, on its way to recording its best weekly gains since December.
While US gold futures settled at $2071.10.
As for other precious metals, silver fell in spot transactions by 0.2 percent to $23.13 per ounce. Platinum also lost 0.2 percent to $911.24, while palladium rose 0.4 percent to $966.42.
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