Gold rises on bargain hunting but heads for weekly decline

Gold rose on Friday as bargain hunting emerged after prices hit a more than one-year low in the previous session, while market focus shifted to upcoming US inflation data. Spot gold climbed 1.1% to $3,918.59 per ounce by 0518 GMT, but has lost 3.6% so far this week. US gold futures for December delivery gained 1% to $3,922.60. “Today’s move is more of a positioning adjustment, given that several…

First reported by Business Recorder 8 hr ago1 source

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Business Recorder06:008 hr ago
Gold rises on bargain hunting but heads for weekly decline (opens Business Recorder in a new tab)
Gold rose on Friday as bargain hunting emerged after prices hit a more than one-year low in the previous session, while market focus shifted to upcoming US inflation data. Spot gold climbed 1.1% to $3,918.59 per ounce by 0518 GMT, but has lost 3.6% so far…

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