Gold Extends Gains on Weaker Dollar and Rising Risks in Ukraine
- Putin says his forces may hit Kyiv’s ‘decision-making centers’
- Bullion is still on course for a weekly decline of about 2%
Spot gold was little changed at $2,637.32 an ounce as of 8:17 a.m. in Singapore.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Gold rose for a fourth day as the US dollar weakened and rising tensions in Ukraine buoyed demand for haven assets.
Bullion climbed as much as 1.1% to trade near $2,666 an ounce on Friday, after Russian President Vladimir Putin warned that his forces could strike “decision-making centers” in Kyiv with ballistic missiles. Meanwhile, the dollar slipped against major currencies, with an index of greenback strength headed for its first weekly decline in two months. That makes gold cheaper for many buyers.