Gold value set at its best since August

December 07, 2018: Gold prices climbed north on Friday and were on track for their best week since August, as the dollar weakened on renewed speculation of an looming pause in the U.S. Federal Reserve's tightening cycle.

Spot gold climbed 0.2 percent to $1,239.90 per ounce by 0443 GMT, having hit a near five-month peak at $1,244.32 per ounce in the previous session. With a rise of 1.5 percent this week, gold looked set to clock its best gain since the week of Aug. 24.

U.S. gold futures were slightly higher at $1,244.2 per ounce.

Posted on: 2018-12-07T10:57:00+05:00