Gold prices rose on Friday, a day after the European Central Bank slashed interest rates for the first time since 2016 and unveiled a sweeping stimulus package to boost growth in the ailing euro zone.
Investors await rate decisions from the Fed, BOJ, SNB and BOE next week to see whether they will live up to markets’ dovish expectations.
Spot gold rose 0.4 percent to $1,504.97 per ounce, while U.S. gold futures were up 0.3 percent at $1,512.15 per ounce.
The U.S. dollar slipped on the back of a strong euro as investors digest the ECB’s moves and react to improved trade rhetoric.
U.S. President Donald Trump said he could consider an interim trade deal with China ahead of high-level negotiations in October.
U.S. Treasury Secretary Steven Mnuchin claimed in an interview with CNBC that President Donald Trump could strike a trade deal with China at “any time” but only wants to do a “good deal” that’s good for U.S. companies and workers.
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