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Gold firms above $1 150 on softer dollar

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Singapore - Gold firmed above $1 150 an ounce on Friday as the dollar nursed losses after an extended rally, but the metal was still headed for its sixth weekly dip in seven on concerns that US interest rates would increase soon.

Spot gold edged up 0.5% to $1 159.40/oz by 03:31 GMT, after posting nine straight sessions of losses, its longest losing stretch since August 1973 when it fell ten days in a row.

So far, the metal is down about 0.7% for the week, after hitting its lowest in more than three months at $1 147.10 on Wednesday.

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Rand - Dollar
18.89
+0.2%
Rand - Pound
23.82
+0.4%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.30
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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