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Gold set for fifth week of gains, buoyed by slump in dollar

Reuters 

By Sethuraman N R(Reuters) - Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the U.S. dollar helping drive bullion towards its fifth-straight weekly gain.Spot gold had edged up 0.5 percent to $1,328.84 an ounce by 0703 GMT, after earlier touching its highest since Sept. 15 at $1,330.34. The metal is up 0.7 percent so far this week and is set for its longest run of weekly gains since a streak that finished in the week ending April 14. U.S. gold futures were up 0.5 percent at $1,329 an ounce.The dollar index, which measures the greenback ...

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First Published: Fri, January 12 2018. 13:13 IST
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