Gold, Silver Head for Weekly Gains on Rate Cut-Fuelled Rally

GOLD - JAKARTA. Gold and silver prices retreated on Friday, but were positioned for weekly gains after silver's surge to a more-than-decade-high and gold's record-breaking rally on growing anticipation of further monetary policy easing by major central banks.

Spot silver fell 0.8% to $31.77 per ounce as of 0800 GMT, after hitting $32.71, its highest since December 2012, in the previous session.