Gold cuts weekly loss, recovers from 9-month low

Johannesburg

GOLD pared a third weekly drop as the dollar halted a rally that sent bullion prices to a nine-month low and pushed silver into a bear market.

Bullion's first gain in four days cut last week's loss to 2 per cent. Prices have tumbled as strong economic data and the prospect of more spending after Donald Trump's US election win boosted bets for higher interest rates. Investors are selling out of gold-backed funds at the fastest pace in three years.