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Gold on track for biggest gain in five weeks

Reuters  |  LONDON 

By Zandi ShabalalaLONDON (Reuters) - Gold rose on Friday and was on track for its best week in five as the dollar softened on political turbulence in the United States, boosting bullion's safe-haven appeal. Spot gold was up 0.5 percent at $1,253.31 per ounce, as of 1358 GMT, putting it up 1.9 percent for the week. U.S. gold futures slipped 0.1 percent to $1,251.60 an ounce."We have political turmoil in the US which has driven the dollar lower... this week's sentiment has supported gold," Danske Bank analysts Jens Pedersen said, adding that it was unclear whether bullion would hold on to ...

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First Published: Fri, May 19 2017. 19:37 IST