Gold Pares Worst Weekly Loss Since September as Dollar Weakens
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Gold rebounded, trimming the worst weekly loss since September, as positive economic data from the U.S. eased demand for the dollar as a haven. Platinum recovered from a two-year low, while silver and palladium advanced.
Immediate-delivery gold gained for the first day in five, gaining as much as 1.6 percent to $1,595.86 an ounce and trading at $1,594.61 at 3:22 p.m. in Singapore. This week, the metal has lost 6.9 percent, the biggest drop since Sept. 23. February-delivery gold gained 1.2 percent to $1,596.20 on the Comex.