Gold set for biggest weekly gain since mid-April

Bengaluru

GOLD prices edged up on Friday and were on track for their biggest weekly gain since mid-April as the US dollar eased and Asian stocks weakened amid ongoing political turbulence in the United States.

The metal slipped 1.1 per cent on Thursday on profit-taking, its biggest one-day percentage drop since May 3 and snapping a five-day rally.

"The gold rally was overdone and there was a correction on Thursday. But perhaps, it came down a little too much from the highs of yesterday. So people started to pick up again," said Brian Lan, m…