Gold was poised for a second weekly rise on Friday, drawing support from a softer dollar which offset pressure from higher U.S. bond yields and rising expectations central banks could begin scaling back economic support.
Spot gold rose 0.6% to $1,793.11 per ounce by 0657 GMT. U.S. gold futures gained 0.7% to $1,794.20.
Bullion prices were en route to a second week of gains, aided by a weaker dollar which was set to decline this week. A lower dollar makes gold more attractive for buyers holding other currencies.
Caledonia Mining Corporation plc (LON:CMCL) is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe.