Gold ends a volatile week near the $2000 level

Gold prices moved in a narrow range on Friday, after a volatile week so far, as a rally in the dollar offset support for the yellow metal from lower US bond yields, but bets on a temporary halt to raising US interest rates boosted expectations for non-yielding bullion.
There was little change in gold in spot transactions, to record $1996.19 an ounce, moving in a range of about $20. US gold futures rose 0.1% to $1,997.50. Prices have risen in the past two sessions after the Federal Reserve raised interest rates by a quarter of a percentage point as expected, but signaled it was about to pause the increases.
Low interest rates increase the attractiveness of gold. The yellow metal hit $2,000, Monday, for the first time in a year.
Craig Erlam, senior market analyst at OANDA, said the dollar’s rise is offsetting the support gold is receiving from lower bond yields, but “economic concerns will lead to lower expectations for interest rates, which could further boost gold prices.”
US Treasury yields fell for ten years for the third consecutive session, Friday, while the dollar index rose 0.7%.