(MENAFN- Baystreet.ca) Gold Set for 1% Weekly Drop
Prices for gold steadied on Friday as the dollar eased, but bullion's constant tussle with expectations for aggressive tightening by the Federal Reserve kept it on course for a weekly fall of nearly 1%.
Spot gold edged up 0.1% to $1,823.70 per ounce early Friday morning. U.S. gold futures fell 0.2% to $1,825.40.
The dollar index slipped 0.1%, making gold less expensive for overseas buyers.
In the physical gold market in Asia, dealers offered bigger discounts in India this week to lure buyers as the wedding season concluded, while some consumers in China bought bullion to hedge against economic concerns.
Spot Platinum rose 0.4% to $910.62 U.S. per ounce, palladium jumped nearly 1% to $1,860.85 U.S..
Silver fell 0.6% to $20.81 U.S.
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