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The Financial Express

Gold prices hold steady below two-week high


File Photo (Collected) File Photo (Collected)

Global gold prices held steady below a two-week high in thin pre-holiday trade on Friday amid firmer equities and a sturdy dollar, remaining on track to log a second consecutive week of gains.

Spot gold was steady at $1,267.08 an ounce at 0703 GMT, after hitting its highest since Dec. 6 at $1,268.91 in the previous session. It was up 0.95 per cent for the week.

US gold futures were unchanged at $1,270.40 an ounce, according to Reuters.

The dollar edged up on Friday though it remained on track for weekly losses, while the euro slumped after Catalan vote results indicated a victory for separatists in a blow to Madrid.

In other precious metals, Palladium was up 0.2 per cent at $1,039.50 an ounce, trading at its highest level since February, 2001.

Silver rose 0.5 per cent to $16.17 an ounce, and platinum was 0.4-per cent lower at $911.50 an ounce.

All three of those precious metals were on track to gain for a second week in a row.

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