Gold heads for biggest weekly gain since August after US midterms
Gold was on track for its biggest weekly gain since August, with a rise of more than 5%, Bloomberg reported. Spot gold rose 0.4% to $4,103.84 an ounce at 8:08 a.m. Singapore time. The report attributed the weekly rally to lower Treasury yields and a weaker dollar following the US midterm elections, while noting that some investors sold gold to cover equity-market losses.