PT. Equityworld Futures – Gold headed for the first weekly climb since February, extending a rebound from a three-month low, after the Federal Reserve lowered projections for interest-rate increases.
Gold for immediate delivery added 0.1 percent to $1,172.31 an ounce by 10:40 a.m. in London, according to Bloomberg generic pricing. Bullion for April delivery rose 0.2 percent to $1,171.70 on the Comex in New York. Futures trading volume on the exchange was 40 percent below the average for this time of day over the past 100 days.
Bullion was set at $1,171.75 an ounce on Friday in the first LBMA Gold Price, an electronic auction that replaced the London gold fixing.
Silver rose 0.4 percent to $16.1997 an ounce and is set to climb 3.4 percent this week. Platinum was little changed at $1,124.75 an ounce, and palladium rose 0.9 percent to $773 an ounce, still set for a second weekly drop.
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