Gold is heading for the second weekly again ahead of G20 meeting in Paris which is expected to focus on discussing measures to solve the European debt crisis. EU Commission President Jose Manuel Barroso outlined a roadmap to combat the crisis. Inspectors from the European Union, International Monetary Fund and European Central Bank, know as the troika, said Greece will probably get the next tranche of last year's 110-aid package in early November. Slovakia ratified the expansion of the EFSF to make all euro-area economies able to use this strong tool, where the aforesaid provided hopes and confidence in markets. Meanwhile, there are hopes that European leaders will launch a decisive and comprehensive plan to contain the debt crisis, damping demand on the dollar which in turn boosted commodities. The dollar fell to touch a high of 76.50, where it found strong support at this level, compared with the day's opening level of 77.03, according to the dollar index which tracks the dollar movements against a basket of major currencies. Now, the inverse relation between gold and dollar is very strong which means the gold is currently getting direction from the dollar's movements. In addition, data from the U.S. continued to show improvement as retail sales advanced 1.1% in September after rising 0.3 in August. Spot gold is traded around $1678.97 an ounce after recording a high of $1683.55 and a low of $1660.75. Crude oil also slipped to $86.53 a barrel from the day's starting level of $84.45. Among other precious metals, sliver edged up to $32.40 from the day's opening of $31.65, platinum surged to $1551.70 from $1529.75 and palladium climbed to $610.75 from $591.00 as of 14:25 GMT.
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