Gold edges up on weaker dollar, Middle East worries

Gold prices crawled up on Friday, buoyed by a slight pullback in the dollar and safe haven demand due to escalating tensions in the Middle East, reports Reuters.
Spot gold was up 0.1 per cent at $2,026.20 per ounce at 1325 GMT, and was on track for a small weekly rise. US gold futures were 0.3 per cent higher at $2,036.10 per ounce.
"This week, the US dollar index has been slightly down ... that is one of the factors which has provided gold a little bit support to trade higher," said Quantitative Commodity Research analyst Peter Fertig.
The dollar index was heading for its first weekly dip in almost two months. A weaker dollar makes greenback-priced bullion less expensive to overseas buyers.
Elsewhere, spot platinum dropped 0.3 per cent to $899.30 per ounce, palladium fell 0.3 per cent to $964.86. Silver gained 0.1 per cent to $22.76 per ounce, and was down 3 per cent so far in the week.