Gold is trading in the green, on its way to its best weekly performance in six months, as its attractiveness as a hedge against inflation intensified with the new increase in the US consumer price index.

Since November 3, gold has gained $110, boosted by heightened fears around rising inflation and assurances from key central banks that key interest rates will remain low for the time being.

Rising key rates make the opportunity cost of holding gold more expensive - since it does not pay interest.

On the other hand, on the New York market (Comex), the precious metal's futures yield 0.10%, to $1,862.20 per ounce, more influenced by the dollar's appreciation - which makes dollar-denominated assets unattractive to those trading in other currencies.