17.08.201807:15:00UTC+00Gold Heads For Its Worst Week In 15 Months

Gold prices edged higher on Friday but remained on track to post their biggest weekly decline in 15 months as the U.S. dollar slid for a third day running.

Spot gold rose 0.25 percent at $1,176.60 an ounce after hitting a 19-month low at $1,159.96 in the previous session.

The metal was on track to post its sixth consecutive weekly decline, with a 2.8 percent fall. U.S. gold futures were marginally higher at $1,184.50 an ounce.

The dollar was little changed against major currencies as the U.S. threatened more sanctions against Turkey over the detention of an American pastor.

The lira weakened more than six percent after Turkey's trade minister, Ruhsar Pekcan, said her government would respond to any new trade duties.

Investors also awaited the next developments in the U.S-China trade saga ahead of the trade talks to be held next week.

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