WASHINGTON (dpa-AFX) - Gold ticked higher on Friday and was on track for a weekly gain following dovish moves by the U.S. Federal Reserve and the Bank of England, and similar comments from European Central Bank chief.
Spot gold edged up 0.2 percent to $1,794.66 per ounce while U.S. gold futures were up 0.1 percent at $1,795.80.
The U.S. Federal Reserve announced earlier this week that it would begin asset tapering in November. At the same time, Fed Chair Jerome Powell said officials can be patient on raising interest rates.
On Thursday, the Bank of England surprised markets by keeping rates on hold.
The European Central Bank is very unlikely to raise interest rates next year as inflation remains too low, European Central Bank President Christine Lagarde said on Wednesday, pushing back expectations for a move as soon as next October.
Investors await the latest U.S. jobs report, which could change the timing of Federal Reserve interest rate hikes.
Employment is expected to jump by 425,000 jobs in October after an increase of 194,000 jobs in September. The unemployment rate is expected to edge down to 4.7 percent from 4.8 percent.
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