Gold is Rising, Supported by Growth Risks, But Heading For a Weekly Loss

Gold surpassed $1,800 on Friday, boosted by bets that central banks may keep interest rates relatively low to stave off continuing risks to growth.

But the dollar’s rise in general, with investors seeking indications about the timing of the schedule to reduce stimulus by the US Federal Reserve, kept gold on track for a weekly decline.

Spot gold rose 0.3 percent to $1,800.40 an ounce.

And down 1.4 percent since the beginning of the week, it is heading for its first decline in five weeks. US gold futures rose 0.1 percent to $1,802.10.

Silver rose 0.54 percent to $ 24.20 an ounce, but it is down two percent this week.

Platinum rose 0.4 percent to $981.19. And it is heading for its biggest weekly decline since early August, dropping 4.2 percent.

And palladium rose 0.5 percent to $ 2189.33, but fell more than nine percent during the week.