Gold posts third straight weekly gain

Gold prices fell today, but posted a weekly gain at the end of the session, as it fell under pressure today due to investors shifting from precious metals as safe havens, in addition to demand returning on the stock markets.

As of 18:37 GMT, dollar index stabilized at 98 points, with a high of 98.2 points and a low of 97.9.

Demand increased on gold during this week due to sharp losses in Wall Street, especially on Wednesday as concerns intensified around a near economic recession in the United States.

Which came as a result of the US bonds yield curve inversion, which markets interpreted as a strong signal of a possible recession.

Gold futures (December delivery) fell by 0.5% to close at $1523.6 an ounce, while notching a gain by 1% this week, with today's high at $1538.6 and a low of $1513.9.