Gold up on loose U.S. monetary policy prospects

May. 20, 2011 07:50AM PST

Reuters reports that gold rose on Friday, helped by a soft dollar after U.S. economic data this week raised prospects the Federal Reserve would keep monetary policy loose.

The market news is quoted as saying,

In other metals, platinum traded at $1,760.80 an ounce from $1,762.50, while palladium changed hands at $723.95 from $724.
Top world palladium producer Norilsk Nickel expects existing global stocks to offset a production decline of “several percent” and will not cause a deficit, the company’s head of sales told Reuters.

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