Gold prices rise 2.3% in week

London (Oct 15)  Gold prices rose at the end of Friday trade, achieving higher-than-expected gains, and recording weekly gains of nearly 2.3%.

Gold went up by 0.6% to the level of $1,304.6 per ounce, on the back of the slowdown in the American Consumer Price Index (CPI), and the 2.2% year-on-year increase in inflation rates in September, compared to 1.9% in the month before.

The weekly gains come amid speculations of a delay of an increase in interest rates by the US Federal Reserve.

Mubasher

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