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.
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