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Gold Sets for Weekly Gain on Sustained Haven Demand

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By Bharat Gautam

March 25 (Reuters) – Gold prices were little changed on Friday as rising U.S. Treasury yields offset bullion demand, but the metal headed for its best week in three weeks. .

* At 1012 GMT, spot gold settled at $1,956.87 per ounce, near its highest since March 14 hit on Thursday. US gold futures were down 0.3% at $1,956.60.

* Risks around Russia and Ukraine and talk of inflationary pressures have supported gold, StoneX analyst Rhona O’Connell said.

* Gold, seen as a safe store of value in times of political crisis and uncertainty, is up about 1.9% so far this week. Some investors also see it as a cushion against high inflation.

* Last week, the Federal Reserve raised borrowing costs for the first time in three years, in an effort to combat rising prices. Since then, its top policymakers have signaled a more aggressive approach to monetary policy tightening this year.

* Yields on 10-year Treasury bonds have approached recent highs, raising the opportunity cost of holding non-interest-bearing bullion.

* In other precious metals, spot silver gained 0.5% to $25.63 per ounce, accumulating and rising nearly 2.8% weekly.

* Platinum was down 0.1% to $1,019.46, and palladium was down 0.7% to $2,505.57.

(Edited in Spanish by Carlos Serrano)

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