WASHINGTON (dpa-AFX) - Gold prices climbed higher on Friday, supported by the news about the stimulus measures by the Chinese government, strong Chinese industrial production data, and on the dollar's retreat from higher levels amid hopes the Federal Reserve will cut interest rate in September.
The dollar index, which climbed to 104.80 in the European session, dropped to 104.39 a little before noon.
Gold futures for May ended up by $32.20 or about 1.35% at $2,412.20 an ounce. Gold futures gained nearly 2% in the week, moving up for a second straight week.
Silver futures for May gained $1.382 or about 4.7% to $31.047 an ounce. For the week, silver futures gained about 9.8%.
Copper futures climbed to $5.0530, gaining $0.1760 or about 3.7%.
Data from the National Bureau of Statistics showed China's industrial growth accelerated in April, driven by robust exports.
Industrial production in China registered an annual increase of 6.7% after rising 4.5% in March, the data said. This was also better than the expected growth of 5.5%.
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