Bengaluru — Gold prices slipped on Friday and were headed for their sharpest weekly drop in two-and-a-half months as the dollar strengthened during the week. Spot gold was down 0.2% at $1,328.90/oz as of 3.38am GMT, heading for a fifth session of declines in six. It has shed 1.4% so far this week, its biggest since the week ended December 8, 2017. US gold futures were down 0.1% at $1,331.2/oz. "We remain somewhat cautious on gold over the short term, given that we think the dollar rally is still not over, especially in the light of US treasury yields remaining elevated," said INTL FCStone analyst Edward Meir. The dollar index, which measures the greenback against a basket of currencies, was up 0.2% at 89.883. It reached a 10-day high of 90.235 on Thursday after hitting a three-year low of 88.253 late last week and was on track for a gain of almost 1% this week. "People do know that interest rates will be raised, most likely in March, and have priced that in," said Brian Lan, MD at d...
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