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 finance minister says cutting inflation is priority IMF chief urges global policymakers to avoid protectionism Gold price drifts higher as inflation remains hot UAE consumer spending rises 13% in 2023, reveals retail report