Gold prices edge higher in Asian trade

Singapore: Gold prices rose in Asian trading on Friday, supported by a softer dollar and lower US Treasury yields, although the metal remains on cours...

Singapore: Gold prices rose in Asian trading on Friday, supported by a softer dollar and lower US Treasury yields, although the metal remains on course for a modest weekly decline.

Spot gold climbed 0.4% to $3,994.03 per ounce, but is still on track for a 0.3% weekly loss.

US gold futures for December delivery also gained 0.3%, reaching $4,004.40 per ounce.

Despite the uptick, the precious metal has dropped nearly 8% since hitting a record high of $4,381.21 on October 20.

Among other precious metals, spot silver rose 0.7% to $48.31 an ounce, but is poised for a 0.7% weekly decline. Platinum slipped 0.4% to $1,534.21, heading for a weekly loss of around 2%, while palladium increased 0.3% to $1,379.33 and is on course for weekly gains of 0.5%.