KONTAN.CO.ID - JAKARTA. Gold prices hovered near a three-month low on Friday and were set for their fourth straight weekly fall, as the strongest dollar in two decades dampened demand for greenback-priced bullion. Spot gold was up 0.1% at $1,823.40 per ounce, as of 0804 GMT, in choppy trade. Earlier in the session, it hit its lowest since Feb. 7. U.S. gold futures were flat at $1,824.60. "The fall through support by gold at $1,835.00, and the sell-off in other precious metals overnight, leave gold vulnerable to deeper losses and a potential test of support at $1,780.00 an ounce," OANDA senior analyst Jeffrey Halley said.
Gold Faces Fourth Weekly Loss as Dollar Rally Saps Appeal
KONTAN.CO.ID - JAKARTA. Gold prices hovered near a three-month low on Friday and were set for their fourth straight weekly fall, as the strongest dollar in two decades dampened demand for greenback-priced bullion. Spot gold was up 0.1% at $1,823.40 per ounce, as of 0804 GMT, in choppy trade. Earlier in the session, it hit its lowest since Feb. 7. U.S. gold futures were flat at $1,824.60. "The fall through support by gold at $1,835.00, and the sell-off in other precious metals overnight, leave gold vulnerable to deeper losses and a potential test of support at $1,780.00 an ounce," OANDA senior analyst Jeffrey Halley said.