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Gold hits highest this week as dollar skids
Gold prices managed to rise on Friday before the weekend to its highest in more than a week as the dollar tumbled against a basket of rivals, helping gold surge.
Gold last traded at $1,240.8 an ounce, up from the opening price of $1,208.0, with a week high at $1,243.2, and a session-low at $1,207.5.
Gold's gains come amid rising demand on the precious metal as expectations fall for a Fed rate hike after weak labor sector data from America.
The dollar fell against a basket of rivals to a three-week low after the payrolls report showed a much lower than expected rise in new jobs last month, helping gold prices jump as they go in opposite ways.
The dollar index, with gauges the U.S. currency against a basket of major rivals, last traded at 94.03, compared to the opening of 95.56, with a session-high at 95.63, and a three-week low at 93.97, with the index nearing its first weekly loss after four weeks of gains.
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