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NEW YORK, June 14: Gold edged higher by the end of trade on Friday, as buyers covered short positions before the weekend and pulled prices up from lower levels that dominated much of the session, traders said.
The precious metals tend to move in opposite direction to the dollar, as it is often bought as a hedge against weakness in the US currency.
Gold had risen to $870.20/ 872.20 an ounce from $867.55/ 869.55 late in New York on Thursday.
New York August gold on the COMEX division of NYME rose in late business to finish up $1.10 at $873.10 an ounce.—Reuters
