Gold scales by 0.5%, as dollar slides

Singapore, March 17 (BNA): Gold prices rose today, Friday, supported by the weakness of the dollar, while it is heading towards achieving the largest weekly gain since mid-November, after the global banking crisis prompted investors to turn to the metal, which is considered a safe haven.

And gold in instant transactions rose 0.5 percent to $ 1928.08 an ounce. US gold futures rose 0.5 percent to $1,932.10.

Gold prices rose by about 3.2 percent since the beginning of the week, heading to record a third consecutive weekly gain, supported by the demand for safe havens after the collapse of the Silicon Valley bank in the United States.

Spot silver rose 0.9 percent to $21.89 an ounce, platinum rose 0.8 percent to $980.33, and palladium rose 0.9 percent to $1,443.80.

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