Gold prices touched fresh one-year high early on Friday’s trade as the
dollar tanked due to weaker than expected US job data and euro hike.
US gold futures for December delivery were up 0.3% at USD 1,354.40.
The euro hovered below a 2-1/2-year high versus the dollar on Friday, with the US currency losing traction after a policy meeting by the European Central Bank did little to support the dollar.
The number of Americans filing for unemployment benefits jumped to a more than two-year high last week amid a surge in applications in hurricane-ravaged Texas, but the underlying trend remained consistent with a strong labour market..
US gold futures for December delivery were up 0.3% at USD 1,354.40.
The euro hovered below a 2-1/2-year high versus the dollar on Friday, with the US currency losing traction after a policy meeting by the European Central Bank did little to support the dollar.
The number of Americans filing for unemployment benefits jumped to a more than two-year high last week amid a surge in applications in hurricane-ravaged Texas, but the underlying trend remained consistent with a strong labour market..
Spot gold nudged up to USD 1,350.46 per ounce, its highest since
September 2016, and was little changed at USD 1,349.43 at 0056 GMT.
The ECB lowered
some of its inflation projections to reflect a firming euro but lifted
some growth forecasts after the euro zone economy registered its best
growth run in a decade.
The euro zone economy grew at a robust pace in the three months to June, driven mostly by higher domestic demand and investment, official data released on Thursday confirmed..
The euro zone economy grew at a robust pace in the three months to June, driven mostly by higher domestic demand and investment, official data released on Thursday confirmed..
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