Gold firm after another Wall Street sell-off

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By Jeff Davies

Gold held steady on Friday amid tumbling equity markets, but a firmer dollar and worries about rising global interest rates weighed on prices.

Spot gold was mostly unchanged at $1,319 an ounce, at 0715 GMT. Prices touched their lowest since Jan. 4 at $1,306.81 on Thursday.

Spot gold was down 1 percent for the week and headed for its second straight weekly drop due to a recovery in the dollar.

The dollar index, which measures the greenback against a basket of currencies, has risen over 1 percent so far this week, its best since the week ended Oct. 27, 2017.

U.S. gold futures were up 0.1 percent at $1,320.50 per ounce.

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