Gold rises 1% on US dollar weakness, safe-haven demand

By: Admin
3 weeks ago

Sept 15 (Reuters) - Gold jumped 1% on Friday, helped by a weaker dollar and safe-haven buying after United Auto Workers union kicked of strikes at three automakers in Detroit, while hopes around a likely pause in U.S. interest-rate hikes lent further support.

Spot gold was up 0.9% at $1,927.79 per ounce by 10:35 a.m. EDT (1435 GMT). Bullion has risen 0.6% so far this week.