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Gold price retreats on stronger dollar – MINING.COM – MINING.com
Gold is still on pace for its longest stretch of weekly gains since 2006.
Gold’s monster rally took a pause on Friday as the US dollar received some respite from investors looking for a hedge against the deepening rift between Washington and Beijing.
But bullion is still on track for a ninth straight weekly gain — the longest streak in about a decade.
Spot gold was 1.2% lower at $2,035.26 per ounce by 11:25 a.m. EDT, having hit another record high of $2,072.90 in early trade. US gold futures also retreated 1.1% to $2,044.90 per ounce in New York.
In addition to a s…
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