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Gold rises on bargain hunting after slumping to over four-month low

Reuters 

By Apeksha Nair(Reuters) - Gold edged up in early trade on Friday as investors resorted to bargain hunting after the yellow metal dropped below its recent trading range to hit the lowest in more than four months overnight. Spot gold was up 0.2 percent at $1,248.86 an ounce, by 0328 GMT, after hitting its lowest since July 26 at $1,243.71 in the previous session. The metal was down for a third straight week, headed for its biggest weekly decline since early May. U.S. gold futures were 0.2 percent lower at $1,250.70."Even as the dollar is firmer, there seems to be a bit of bargain hunting ...

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First Published: Fri, December 08 2017. 09:29 IST
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