Gold is stable near the highest level in a year as expectations of a US interest rate decline

Gold stood near a one-year high on Friday as the dollar fell and expectations of a rise in US interest rates in December were eased by weak economic data.

The dollar hit a two-and-a-half year low against a basket of major currencies as expectations of a new US interest rate rise this year eased.

By 1943 GMT, spot gold fell 0.1 percent to $ 1,347.8 an ounce after touching its highest level since August 2016 at $ 1357.54 an ounce.

The yellow metal rose 1.7 percent this week, making its third weekly gain in a row.

Gold reached $ 1351.2 an ounce in December.

Among other precious metals, silver fell 0.3 percent to $ 18.01 a troy ounce after touching earlier on Friday its highest since April at $ 18.21 an ounce and up about 2 percent on a weekly basis.

Palladium fell 2.1 percent to $ 934.78 an ounce and more than 4 percent on a weekly basis, the first decline in seven weeks.

Platinum fell 0.7 percent to $ 1008.40 an ounce after touching earlier its highest level since March at $ 1022.70 an ounce.

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