Gold Heads for Second Weekly Loss as Traders Assess Dollar, Fed
- Dollar gains after reports on producer prices, jobless claims
- Fed’s George still says it’s time to soften stimulus measures
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Gold is heading for a second straight weekly loss as the dollar advances and concerns simmer that the Federal Reserve could soon reduce support for the U.S. economy.
The dollar advanced Thursday after U.S. economic reports added to signs of rising inflation pressures and a strengthening job market. A stronger dollar diminishes demand for bullion as an alternative asset.