Gold rises as trade hopes dent the dollar
All eyes are on the upcoming US jobs report, as SPDR Gold holdings rise to their highest since August; platinum hits its highest since June
Bengaluru — Gold prices rose slightly on Friday, setting the market on course for a fifth week of gains, as the dollar retreated amid expectations of a thaw in US-China trade tensions. Investors were awaiting US jobs data for fresh clues on the economy. Spot gold was up 0.2% at $1,235.50 an ounce by 11.02am GMT. US gold futures were down 0.1% at $1,237.3 an ounce. According to a Reuters survey of economists, non-farm payrolls probably rose by 190,000 jobs in October after a 134,000 increase in the previous month. World share markets soared higher on Friday, while the dollar eased, as hopes built that the US and China were starting to repair their badly damaged trade relations. “Markets are reacting positively to the news of [US President Donald] Trump seeking a deal with China, also because this is pulling down the dollar, which is a good factor for gold,” ActivTrades chief analyst Carlo Alberto De Casa said. “From a technical point of view, there could be space for further rallies,...
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