Gold is heading for its best weekly gain since April, with the dollar falling

Gold prices were on course on Friday for their biggest weekly gain since April, after rising near a one-month high as market expectations of a US interest rate hike waned, sending the dollar down to its lowest in more than a year.

And by 0504 GMT, gold in spot transactions witnessed a slight change, to reach $ 1959.81 an ounce, up 1.9 percent during the week. There was little change in US gold futures, reaching $1964.00.

The dollar index touched its lowest level since April 2022, making gold less expensive for buyers from abroad.

As for other precious metals, spot silver fell 0.2 percent to $ 24.8091 an ounce, but it is heading for the largest weekly gain since March.

Platinum also fell 0.4 percent to $ 969.08, as well as palladium by 1.1 percent to $ 1280.62, but it is heading towards achieving gains for the second week in a row.