Metals Stocks: Gold tips higher as dollar eases, but on track for back-to-back weekly loss

Gold prices on Friday crawled off the three-week lows struck a day earlier, but the week’s downbeat tone—in the wake of signals from the Federal Reserve for another increase to interest rates this year—set up the yellow metal for back-to-back weekly losses.

Gold gained modestly in the short term, in part as a closely watched dollar index DXY, -0.13% slipped, making the metal more attractive to investors using another currency. Optimism for China’s economy after a round of monetary stimulus from its central bank underpinned gold trading on Friday as well.

August gold GCQ7, +0.20% was up $2.60, or 0.2%, at $1,257.20.

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