Gold rises on Friday, set for weekly losses

Gold prices rose today, May 26, as negotiators in the US are about to reach an agreement about the debt ceiling.

The precious metal is set to extend its losses for the third straight week, falling 1.6% so far this week.

Gold futures for August delivery rose 0.61%, or $12, to $1,974.3 an ounce at 11:04 am Makkah time. Spot prices increased 0.64%, or $12.4, to $1,953.81.

Silver futures for July delivery were up 1.31% to $23.21 per ounce, while spot prices for platinum gained 0.84% to $1,034.13.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.24% to 104 points.