Gold Rises But is on Track for Fourth Weekly Loss

SadaNews Economy - The price of gold rose by more than one percent today, Friday, supported by buying activities; however, it is on track to incur losses for the fourth consecutive week.

Gold advanced in spot transactions (1.1%) to (4428.30) dollars per ounce (at 0228 GMT), but the precious metal has declined by about (1.3%) since the beginning of the week. Meanwhile, U.S. gold futures for April delivery increased by (1.1%) to (4423.40) dollars per ounce.

Gold has decreased by about (17%) under pressure from the rising dollar, which has increased by more than 2% during that period.

In other precious metals, the price of silver in spot transactions rose (1.1%) to (68.80) dollars per ounce, while platinum saw an increase in spot transactions of (2.1%) to (1865.13) dollars, and palladium gained (2.7%) reaching (1389.80) dollars.