Gold edged up on Friday as the dollar retreated and recession fears buoyed its safe-haven appeal, but looming interest rates hikes set the non-yielding asset on course for a weekly dip. Spot gold rose 0.4% to $1,830.22 per ounce by 2:20 p.m. ET (1820 GMT), after earlier touching a one-week low of $1,816.10. Spot silver rose 1.2% to $21.19 per ounce. Although bullion is considered an inflation hedge but higher US interest rates increase the opportunity cost of holding it.
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