Gold hits three-month high on weak dollar and buybacks
Gold prices reached a near three-month peak heading for a third consecutive weekly gain. The rally was supported by a softer dollar and plans for US Treasury bond buybacks. Other precious metals also advanced.
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Gold prices climbed 1% to $4,562.86 per ounce on Friday morning, hitting a near three-month peak. The advance was driven by a softer dollar and a major bond buyback move by the United States. Prices have risen 4.2% over the week.
