Home Industry Economy Gold set for second weekly gain on weak dollar Spot gold was up 0.1 per cent at $2,042.01 per ounce, as of 5.34am GMT by Gulf Business April 14, 2023 Gold prices edged higher on Friday, set for a second consecutive weekly gain, as the US dollar tumbled and recent economic data prompted bets that the Federal Reserve is nearing the end of its rate-hike cycle, state news agency WAM reported. Spot gold was up 0.1 per cent at $2,042.01 per ounce, as of 05.34GMT, hovering near a one-year high reached on Thursday. US gold futures rose 0.1 per cent to $2,056.70. Gold set for 2nd weekly gain on weak dollar #WamNews https://t.co/BKAo817eAJ pic.twitter.com/5uuFYWSgyZ — WAM English (@WAMNEWS_ENG) April 14, 2023 Spot silver rose 0.5 per cent to $25.90 per ounce, hitting a one-year peak earlier, while platinum gained 0.5 per cent at $1,051.93. Both metals were bound for a fifth straight weekly gain. Read: Dubai to launch new gold and silver coins Tags Economy gold 0 Comments You might also like Egypt’s central bank leaves overnight interest rates steady Egypt counts on foreign funds to buy gas as power crisis worsens Bahrain to impose 15% minimum tax on large multinationals Egypt’s net foreign assets positive for third straight month in July