Gold prices are heading today to record the highest weekly increase since last November, supported by the decline in the dollar and the yields on US Treasury bonds.
And Reuters reported that gold rose in spot transactions 0.2% to $1826.51 an ounce and rose by about 1.7 percent this week, while US gold futures increased 0.3 percent to $1826.80 an ounce.
The dollar is heading to incur the largest weekly loss in eight months, making gold less expensive for holders of other currencies, and the yield on US Treasury bonds for ten years is facing the first weekly decline in four weeks.
As for other precious metals, silver increased in spot transactions by 0.4 percent to $23.66 an ounce, and is heading towards recording the best weekly performance in two months.
Platinum rose 0.9 percent to $978.32 an ounce, while palladium fell 0.8 percent to $1871.87 an ounce and is heading towards incurring a weekly loss.