Gold Set for First Back-to-Back Weekly Gain Since Early January
- Investors weighing yields, appeal of metal as inflation hedge
- Palladium is up 11% this week on larger-than-expected deficit
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Gold rose, heading for its first consecutive weekly gains since January as the dollar wavered and investors assessed demand for the metal as a hedge against inflation.
Equities fluctuated and Treasury yields retreated from the highest levels of the day, easing pressure on bullion. The Bloomberg Dollar Spot Index was little changed after rising earlier.