Gold for June delivery
GCM2
+0.51%
rose $4.30, or 0.3%, to $1,664.80 an ounce on the Comex division of the New York Mercantile Exchange.
That was gold’s best settlement since April 12, and one that took weekly
gains to 1.4%. The contract rallied 1.1% Thursday, more than making up
for losses earlier in the week.Dollar weakness is positive for dollar-denominated commodities such as gold, because it makes them cheaper for holders of other currencies.
Further Gold gets expensive for Indians as Rupees weakens.
