Gold prices inch down on firmer dollar
Friday,
23-Feb-2018
09:51 AM (IST)
Gold prices slipped on Friday on a stronger dollar and the yellow metal was on track for its sharpest weekly drop in 2-1/2 months. Spot gold was down 0.2 per cent at $1,329.16 an ounce. Prices gained 0.6 per cent in the previous session, in their biggest one-day per centage rise since February 14. The precious metal was on track for its biggest weekly fall since the week ended Dec. 8, 2017. US gold futures were down 0.2 per cent at $1,330.9 per ounce. The dollar index , which measures the greenback against a basket of currencies, was up 0.1 per cent at 89.809.The index had reached a 10-day high of 90.235 on Thursday, from a three-year low of 88.253 late last week, before its rally ran out of steam. It was on still on track to gain 0.8 per cent on the week.
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