Gold prices rose on the European market on Friday to continue rising for the second day in a row, with a slight improvement in the levels of investment demand for the metal as a safe haven ahead of the meeting of the Group of Seven major industrial and prices are close to record a weekly gain, based on weak path of the dollar against a basket of World currencies.

Gold prices rose by more than 0.1% as of 08:45 GMT to trade at $ 1298.55 per ounce from the opening level of $ 1296.99 and recorded the highest level of $ 1299.87 and the lowest level of $ 1293.05.

Gold prices ended Thursday’s trading up 0.1%, as the US dollar depreciated against a basket of currencies, especially against the euro.

Gold chart

Today, in Quebec City, Canada, the G7 will meet to discuss global economic issues, especially those related to tariffs and trade relations, amid expectations that US President Donald Trump will shock his counterparts with requests for trade protection for the United States.

Over the course of the week, gold prices so far rose by 0.3%, about to achieve a weekly gain, the second in the last three weeks, based on the weak path of the rise of the US currency against a basket of currencies.

US currency fell 0.6% against a basket of major and minor currencies this week, the second weekly loss and the biggest weekly loss since March, as correction and profit taking continued after strong gains in the last period, European monetary stimulus program.

Gold holdings in the SPDR Gold Trust Fund The world’s largest gold-backed index funds remained unchanged yesterday at a total of 832.59 metric tons, the lowest level since Feb. 26.