World Economy

Gold Slips

Gold SlipsGold Slips

Gold prices dipped on Friday and were set for the first weekly loss since May as Asian shares surged to a nine-month high and the dollar hit a three-week top against the yen on better-than-expected Chinese data, lifting risk sentiment across the board, Reuters reported. Spot gold eased 0.2% to $1,332.70 per ounce. Bullion closed about 0.6% lower on Thursday after hitting its lowest since June 30 earlier in the session. The metal has fallen about 2.5% so far this week and is on track for its first weekly decline since the week ending May 27. US gold inched up 0.1% to $1,333.30 an ounce.