Gold rallies to 3-month high on weaker dollar, bullish technicals
GLD•Other precious metals rise
Elsewhere, spot silver XAG= gained 2.3% to $69.62 per ounce, platinum XPT= climbed 2.8% to $1,878.58, while palladium XPD= rose 0.8% to $1,344.96. All metals are set for weekly gains.
Gold hits a more than three-month high
Gold climbed to a more than three-month high on Friday, on track for its third straight weekly gain, aided by a break above key technical levels as the U.S. Treasury's buyback support plan dragged on the dollar.
Spot gold XAU= climbed 2.4% to $4,623.94 per ounce by 1:41 p.m. EDT (1741 GMT), earlier touching $4,631.99 — its highest since May 15. U.S. gold futures GCcv1 settled 2.4% higher at $4,680.60.
Prices have gained over 5% so far this week, including their biggest one-day rise since early February registered on Wednesday.
