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2017.11.2402:17:00UTC+00Gold Prices Climb as Dollar Remains Under Pressure

Gold prices increased on Friday as the dollar remains on the back foot following minutes of the U.S. Federal Reserve's meeting, as it showed that some policymakers are concerned about lower inflation.

Spot gold rose 0.1 percent at $1,291.50 an ounce. Bullion was 0.2 percent lower for the week.

U.S. gold futures for December delivery fell 0.1 percent to $1,291.10.

“Investor appetite for the precious metal is low even after slightly more dovish-than-expected Fed minutes. There just has not been enough to entice investors back into the market in great amounts," according to ANZ analyst Daniel Hynes.

Spot gold has cancelled a bearish target at $1,283 per ounce as it appears to have found support at $1,288 and is biased to break above a resistance at $1,296, according to Reuters

technical analyst Wang Tao.

Holdings of the biggest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust GLD, and the biggest silver-backed ETF, New York's iShares Silver Trust SLV, were flat on Wednesday from Tuesday.

The dollar index, which tracks the greenback against a basket of six major peers, fell 0.1 percent.

Among other precious metals, silver climbed 0.5 percent to $17.14 per ounce. Platinum added 0.2 percent to $934.74 per ounce. Palladium slid 0.1 percent to $1,010.75 per ounce after notching a two-week peak of $1,013.70 in the previous session.

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