Gold prices rose in European trade after a two-day hiatus from gains off three-month highs, as the dollar declines against major rivals.
Gold is thus solidly heading for the third weekly profit in a row amid signals of improved demand on the metal as a safe haven and amid mounting economic risks.
Prices Today
Gold Prices rose 0.4% today to $1,766 an ounce, after falling 0.8% on Thursday, the second loss in a row on profit-taking off three-month highs at $1,786.
The Dollar
The dollar index fell 0.3% on Friday, resuming the losses after a rebound yesterday from three-month lows at 105.34 against major rivals.
Markets still expect a 90% chance of a 0.5% rate hike by the Federal Reserve next month despite the spate of bullish remarks by Fed officials.
Weekly Tradings
Gold is near three-month highs at $1,786, and is heading solidly to the third weekly profit in a row, provided the dollar avoids new surges today.
The SPDR
Gold holdings at the SPDR Gold Trust remained flat yesterday at a total of 906.35 tones.