SINGAPORE: Gold retained sharp overnight gains to trade near a 16-week high on Friday and was poised to post its sixth weekly rise in a row, as troubles at a Portuguese bank hammered equities and stoked safe-haven demand for bullion.
Spot gold inched up 0.1% to US$1,336.36 an ounce by 0028 GMT, after closing up 0.7% on Thursday, when it rose to a peak of US$1,345 – the metal's highest since March 19.
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