Gold sets at five for the first weekly gain as the dollar rally loses steam

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Gold prices are strong, ready for Friday

Their first weekly gain in dollars since mid-April

Pullback from a two-decade high and growing concerns over the United States

Economic growth has revived demand for safe haven bullion.

Spot gold was up 0.2% at 1,845.71 per ounce

0556 GMT, rising to a one-week high of 1.9%

Thursday. US gold futures rose 0.1%

$ 1,844.30

Pricing is coming together, with resistance

$ 1,850 and about 8 1,810 support, Brian Lan said management

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The dealer is a director of Goldsilver Central.

Greenback-priced bullion prices rose about 1.9%

This week, the dollar coincides with what is set to be the first

Weekly loss in seven.

“The threat of recession is now giving way to the fear of US growth,

And the latter is helping gold, “said Stephen Ines, managing director

SPI is a partner in asset management, but the US Federal Dr.

The path of aggressive rate increase of reserves and quantitative hardening

There will still be major down-drafts for gold.

It may become less attractive as there is no interest in the bullion

To investors when short-term US interest rates are raised. It is

However, from time to time the price is seen as a safe store

The economic crisis.

The US Federal Reserve will raise interest rates by 2020

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Just a month before the end of this year, put forward

Surviving a recession is already a significant risk, according to a Reuters poll

Found economists.

China, meanwhile, has lowered its benchmark reference rate

Mortgages on an unexpectedly wide margin on Friday, this is the second

Decline this year as Beijing seeks to revive the sick

To boost the housing sector economy.

Spot Silver rose 0.5% to $ 22.00 per ounce, and has been

It has risen about 4.4% this week.

Platinum is up 0.1% to $ 963.49 and palladium is up

1. rose 1.4% to 2,034.63. Both were set for weekly gains

About 2.5% and 4.5%, respectively.

(Report by Bharat Govinda Gautam in Bangalore; edited by

Sherry Jacob-Phillips and Rashmi Ich)