Gold Price: Rises as Dollar Falls

Gold rose today, Friday, amid a decline in the dollar after private sector reports on jobs indicated weakness in the labor market in the United States, which strengthened expectations of another cut in interest rates.
Gold rose in spot transactions 0.4 percent to $3,994.03 per ounce by 0341 GMT, but it is heading for a weekly loss of 0.3 percent. The precious metal has fallen by about eight percent since hitting its all-time high of $4,381.21 on October 20.
US gold futures for December delivery increased 0.3 percent to $4,004.40 an ounce.
As for other precious metals, silver rose in spot transactions by 0.7 percent to $48.31 per ounce, but it is heading for a weekly loss of 0.7 percent. Platinum fell 0.4 percent to $1,534.21 and is heading for a weekly decline of about two percent. Palladium increased 0.3 percent to $1,379.33 and is headed for weekly gains of 0.5 percent.