Gold falls as stocks and dollar rally but post third week of gains

UNITED STATES, WASHINGTON (VOP TODAY NEWS) — Gold prices fell on Friday as stocks and the dollar rallied, but fears of a global economic slowdown and lack of clarity about the US-China trade war helped the precious metal post its third straight week of gains.

Spot gold fell 0.6 percent to $ 1,513.17 an ounce late in the trading session, but ended the week up more than 1 percent.

US gold futures fell 0.5 percent to settle at $ 1,523.60 an ounce.

Hopes for more official stimulus and a rebound in the bond market led a broad rally in US stocks at the end of a turbulent week.

The dollar index, which measures the value of the greenback versus a basket of six major currencies, rose to a two-week high.

Gold has risen more than $ 100 since the start of the month amid falling global bond yields, highlighting trade tensions and a series of disappointing economic data around the world.

Among other precious metals, spot silver fell 0.7 percent to $ 17.13 an ounce, but posted its second consecutive week of gains.

Platinum rose 1.1 percent to $ 848.00 an ounce, while palladium rose 0.3 percent to $ 1,448.83 an ounce.


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