LONDON: Gold slipped on Friday as the dollar advanced versus the yen and the euro, but the metal was still looking to post a weekly gain, while silver was set for its biggest weekly rise in 13 months.
The dollar was up almost 2 per cent against the yen on speculation the Bank of Japan was considering applying negative rates to its lending programme for financial institutions, effectively starting to pay banks to borrow its cash.
Gold was down 0.5pc at $1,242.36 an ounce by 1421 GMT, after hitting a five-week high of $1,270.10 an ounce on Thursday. Spot silver rose 1.5pc to $17.25 an ounce. It had risen to an 11-month high of $17.69 in the previous session and was up more than 6pc for the week.
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