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Gold rises, set for biggest weekly gain since mid-April


By Vijaykumar Vedala(Reuters) - Gold prices edged up on Friday and were on track for their biggest weekly gain since mid-April as the dollar eased and Asian stocks weakened amid ongoing political turbulence in the United States.The metal slipped 1.1 percent on Thursday on profit-taking, its biggest one-day percentage drop since May 3 and snapping a five-day rally. "The gold rally was overdone and there was a correction on Thursday. But perhaps, it came down a little too much from the highs of yesterday. So people started to pick up again," said Brian Lan, managing director at gold dealer ...

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First Published: Fri, May 19 2017. 09:50 IST