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Gold Rises Over 1 Percent on Weaker Dollar

Gold prices advanced more than 1 percent on Friday supported by cooling oil prices and a softer US dollar. Markets continue to weigh the likelihood of further Federal Reserve interest-rate hikes amid persistent inflation pressures.

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A view of smelted gold bars at a smelting facility in Accra, Ghana, August 22, 2024. REUTERS/Francis Kokoroko/

Gold climbed 1.4% to $4,189.99 during Friday morning trading, driven by cooling oil prices and a softer dollar. The move puts bullion on track for a weekly gain following recent market volatility.
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