Gold Cruises to Fifth Weekly Gain; Focus on Weak Equities

© Reuters. Gold posts fifth weekly gain

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An anemic Wall Street remains gold's best hopes for a rally toward $1,300, although heightened trade war rhetoric and a potential Democratic victory in the U.S. midterm elections could also be drivers for the yellow metal, which on Friday posted a fifth-straight week of gains.
Comex gold for December delivery settled the day down $5.30, or 0.4%, at $1,233.30 a troy ounce. For the week, the contract was marginally higher, rising 0.1%.
The dollar , a contrarian bet to gold, gained 0.3%, weighing on the precious metal.
Since Sept. 21, gold has ended each week higher, posting a cumulative 3.5% gain for the past five weeks.

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