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Gold slips as Turkish currency crisis bolsters the dollar

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold prices were on track for their fifth consecutive weekly fall on Friday as the dollar surged to its strongest in more than a year, making bullion more expensive for buyers with other currencies.Investors rushed to the safety of the greenback as the Turkish lira collapsed as much as 14 percent on Friday to a record low, Russia's rouble crumbled to a two-year low and the euro and pound touched their weakest levels in a year.With the turmoil in Turkey spreading to other markets, gold - traditionally used as a safe investment in times of uncertainty - also ...

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First Published: Fri, August 10 2018. 19:55 IST