WASHINGTON (dpa-AFX) - Gold ticked higher on Friday after falling 1 percent the previous day on diminished expectations for an imminent Fed interest-rate cut.
Spot gold rose half a percent to $3,340.94 per ounce in European trade and was up more than 2 percent for the week. U.S. gold futures were up 0.3 percent at $3,352.80.
A weakening dollar on tariff-related and fiscal worries boosted safe-haven demand for the precious metal.
The dollar index was on track for a second week of decline on concerns that the passage of Trump's 'big, beautiful' tax and spending bill would add trillions to the national debt and deepen fiscal imbalances.
Also, there is considerable uncertainty over the approaching July 9 deadline for reciprocal tariffs.
The Trump administration said that it would start sending letters to countries starting Friday to identify the tariff rates they would face on imports to the United States.
Meanwhile, upbeat U.S. jobs data released on Thursday dampened hopes for a July rate cut by the Federal Reserve. The chance of a move in September also ebbed to about 70 percent.
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