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Gold up on weaker dollar, heads for fifth gain on week

Reuters 

(Reuters) - prices rose for a third straight session on Friday on a weaker dollar, with the on track for a fifth straight weekly gain.

FUNDAMENTALS

* Spot edged up 0.1 percent to $1,324 an ounce by 0100 GMT. Prices hit a near four-month high of $1,326.56 an ounce on Wednesday.

* Spot has risen 0.3 percent so far this week.

* U. S. futures were up 0.2 percent at $1,324.60 an ounce.

* The dollar index <. DXY>, which measures the greenback against six rival currencies, was down 0.2 percent at 91.707, after earlier falling to its lowest since Sept. 20, 2017 at 91.689.

* The jumped against the dollar as the signalled it could begin to wind down its 2.5 trillion ($3.01 trillion) stimulus programme this year.

* The ECB should revisit its communication stance in early 2018, accounts of its December meeting showed, suggesting that policymakers could soon start preparing markets for the end of the bank's massive stimulus.

* A stronger potentially boosts demand for by making dollar-priced bullion cheaper for European investors.

* The greenback was also under pressure after data showed U.

S. prices fell for the first time in nearly 1-1/2 years in December amid declining costs for services.

* Weak at the level could add to concerns that the factors restraining could become more persistent and result in the being more cautious about raising interest rates this year.

* Higher rates could dent demand for non-interest-paying

* Brent crude prices hit $70 a barrel on signs of tightening crude stocks but settled off that level on Thursday.

* Asian stocks resumed their ascent on Friday, supported by U. S. earnings optimism and a rise in

* One person was killed and part of South Africa's Royal Bafokeng Platinum's (RBPlat) conveyor belt was burnt during overnight protests at one of its shafts in the country's North West Province, the platinum said on Thursday.

(Reporting by in Bengaluru; Editing by Biju Dwarakanath)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 12 2018. 07:00 IST
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