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Gold Could Gain Most in 5 Wks.

May 19, 2017 ( via COMTEX) --

Prices for gold improved on Friday and appeared on track for their best week in five as the U.S. Dollar softened on political turbulence at home, boosting bullion's safe-haven appeal, as President Trump embarked on his first series of foreign visits.

Spot gold was up 0.5% at $1,253.21 U.S. per ounce. It climbed 1.9% for the week while U.S. gold futures slipped 0.03% to $1,253.20 U.S. an ounce.

Gold is often seen as an alternative investment during times of geopolitical and financial uncertainty, gaining alongside bond yields and the Japanes Yen while stocks usually take a hit.

The dollar index, measuring the greenback against a basket of six major currencies, was headed for its worst week in nine months while world stocks were set for the first weekly fall in five weeks.

Among other precious metals, silver climbed 1.7% to $16.82 U.S. an ounce. Both metals were headed for their strongest week since mid-April, while platinum rose 0.6% to $937.20 U.S. an ounce.

Palladium gained 0.5% to $765.50 U.S. per ounce. The metal slipped 5% this week, poised for its biggest weekly fall since late January.

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