Gold heads for third weekly gain as dollar weakens

Gold prices climbed on Friday, on track for a third consecutive weekly advance, as a weaker dollar supported demand for the metal. By 09:25 Moscow time, December gold futures rose 0.75% to $4,605.90 per ounce. Spot gold also gained 0.75% to $4,550.44 per ounce, bringing its week-to-date increase to 3.6%. Brian Lan, managing director of Gold Silver Central, said the dollar was losing ground and that the move was lifting precious metals broadly, while bond yields showed little change. A softer dollar makes dollar-denominated commodities cheaper for buyers holding other currencies. The dollar was heading for a weekly decline, extending its recent pullback against major peers. No further market details were immediately available beyond the session’s trading update.