Gold set for worst year since 2015 on fading safe-haven demand

GOLD was set on Friday for its worst year since 2015 as a global economic recovery from last year's contraction robbed the metal of safe-haven flows and as central banks prepared to raise interest rates to contain persistently high inflation.

Spot gold rose 0.2% to $1,817.78 per ounce by 0529 GMT, hovering close to Tuesday's one-month high, as a dip in U.S. Treasury yields boosted the metal's appeal by reducing its opportunity cost. U.S. gold futures were up 0.3% to $1,818.70.