Gold settles higher on Friday, gains 0.3% in week

Gold settles higher on Friday, gains 0.3% in week

Mubasher: Gold increased at Friday’s settlement, recording a slight weekly gain, as the USD declined, before rising near stability. 

Comex February gold went up by $2.1, or 0.2%, to close at $1,289.5 per ounce, increasing by 0.3% in a week.

By 07:01 GMT, the USD index (DXY) edged up 0.08% to 95.63.

"We continue to expect the greenback to decline further over time as expectations over [Federal Reserve interest] rate hikes diminish," Market Watch reported, citing market analyst at Forex.com Fawad Razaqzada as saying.