Gold set for weekly dip with resilient U.S. economy in focus

Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as traders looked beyond a widely expected pause by the Federal Reserve this month to focus on persistently resilient U.S. data.

Spot gold was up 0.3% to $1,924.98 per ounce by 0345 GMT, but set for a 0.7% weekly fall. U.S. gold futures rose 0.3% to $1,949.00.

“Market participants are looking for other asset classes that can give them higher returns. That, at this moment, seems like the dollar,” said Brian Lan of Singapore dealer GoldSilver Central.

Source: CNBC