Gold Price surges

November 19, 2017

Bengaluru-India (Nob 19)   Gold prices stayed on track for a second straight weekly gain early on Friday as they crept up on a weaker dollar, although trading remained in a tight range amid expectations of a U.S. interest rate hike next month.

Spot gold had climbed 0.1 percent to $1,279.21 per ounce by 0104 GMT. It is up about 0.3 percent for the week. U.S. gold futures for December delivery edged up 0.1 percent to $1,279.21. The dollar index , which tracks the U.S. currency against a basket of six major rivals, slipped 0.2 percent.

U.S. industrial production recorded its biggest increase in six months in October as the drag from hurricane-related disruptions unwound, but the underlying growth trend in output at the nation´s factories, mines and utility plants remained moderate. Dallas Federal Reserve Bank President Robert Kaplan on Thursday repeated that he is "very open-minded and actively thinking about" a possible interest-rate hike at the U.S. central bank´s next policy meeting.


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