Gold at $1305 and Looking at Strong Weekly Gain

Spot gold was holding gains near $1,300 an ounce on Friday and looked set to post its biggest weekly gain since October as more weak U.S. data raised fears about economic growth, burnishing the metal’s appeal as a safe-haven.

U.S. gold futures climbed for an eighth straight session – their longest winning streak since July 2011.

Spot gold eased 0.15 percent to $1,300.36 an ounce by 0024 GMT, having hit a three-month high of $1,302.61 earlier in the session. It is up about 2.5 percent for the week – the largest such gain since late October.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.