BENGALURU: Gold prices on Friday traded near a five-month high hit the previous session on expectations of a slowdown in US rate hikes next year, pushing bullion towards its biggest weekly gain since August.

Investors are focused on US non-farm payrolls data later in the day for clues on the future path of rate hikes by the US Federal Reserve. Spot gold was up 0.2 per cent at $1,239.97 per ounce at 1257GMT, having hit $1,244.32/oz in the previous session, its highest since July 17.

US gold futures were also 0.2pc higher at $1,246.10/oz.

Meanwhile, spot palladium was down 1.3 pc at $1,193.97/oz, having fallen 2.7 pc in the previous session. Silver gained 0.1 pc to $14.49/oz and was headed for a weekly rise of about 2 pc. Platinum was steady at $786.70, but extended losses for a fifth successive week.

Published in Dawn, December 8th, 2018