Bengaluru — Gold rose for a sixth day on Friday, buoyed by a weaker dollar, with investors waiting for key US inflation data for clues on the outlook for potential increases in US interest rates. Spot gold was up 0.2% at $1,296.21 an ounce by 3.28am GMT. The metal was on track to post its first weekly gain in five weeks. US gold futures for December delivery climbed 0.2% to $1,298.60/oz. “We remain somewhat cautious on gold here, as we think the complex will have some difficulty moving higher as we approach both the European Central Bank (ECB) meeting and the Fed rate increase slated for year-end,” INTL FCStone analyst Edward Meir said in a note. “Having said that, with the political situation in Washington looking messy and potentially bearish for the dollar … the precious metal could see an element of support materialising as well.” The dollar slipped on Friday, on track for weekly losses as investors awaited the US inflation data to gauge the likelihood that the Federal Reserve w...
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