Gold on track for weekly decline in four weeks

London (March 29)  Gold inched up today, but was on track for its first weekly decline in four weeks after posting its steepest fall in more than seven months in the previous session on a strong dollar, Reuters reports.

Palladium, meanwhile, was set for its worst week since November 2015, after recording its biggest one-day decline in more than two years on Thursday.

Spot gold edged up by 0.1 percent to US$1,291.40 per ounce, after falling about 1.5 percent in the previous session to touch its lowest since March 8 at US$1,288.30. The metal is down by about 1.6 percent so far this week, but is virtually flat for the quarter.

U.S. gold futures were flat at US$1,290 an ounce.

TheStandard

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