Gold prices rise on Friday, head for weekly losses

10/02/2023 Argaam

Gold prices rose today, Feb. 10, amid weakness of the US dollar and anticipation of the US inflation data that will be released next week.

 

Some Fed officials stressed the importance of interest-rate hike to fight inflation.

 

Gold futures for April delivery inched up 0.1% to $1,880.4 an ounce at 11:30 am Makkah time. Spot prices also edged up 0.47%, or $6.2, to $1,867.98 an ounce.

 

Silver futures for March delivery were up 0.51% to $22.26 per ounce.

 

Spot prices for platinum gained 0.13% to $959.81. Palladium prices increased 0.45% to $1,621.06.

 

However, the precious metal is heading for weekly losses, as it has lost nearly 0.2% so far.

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