Gold was poised to end the week close to where it started after being buffeted by the Federal Reserve and the European Central Bank.
Bullion edged higher to trade above $1,960 an ounce, extending Thursday's gain after ECB President Christine Lagarde said a hike next month was very likely. The dollar weakened initially, boosting the precious metal.
Gold fell earlier in the week after the Fed paused its tightening cycle, but said more hikes were likely later this year. Higher interest rates are generally negative for bullion, which doesn't offer any interest.
The metal is still trading at historically high levels even as the monetary policy outlook turns more hawkish and the US debt-ceiling crisis has been resolved. Investors will look to data later on Friday on inflation expectations, which are closely followed by the Fed.
Spot gold rose 0.4% to $1,964.86 an ounce as of 1:44 p.m. in London, up 0.2% for the week. The Bloomberg Dollar Spot Index was little changed after falling 0.7% on Thursday. Silver climbed, while platinum and palladium were steady.
Source : Bloomberg
