
Gold ticks up on softer US dollar, heads for weekly gain
Spot gold was up 0.10 per cent at US$3,371.86 per ounce, as of 0051 GMT. Bullion is up 0.60 per cent this week. US gold futures were little changed at US$3,374.80.
The US dollar index was headed for its worst week in a month, making greenback-priced gold less expensive for other currency holders.
The European Union and United States now appear to be heading towards a possible trade deal, according to EU diplomats, which would result in a broad 15 per cent tariff on EU goods imported into the US, mirroring a framework agreement Washington struck with Japan.
The S&P 500 and the Nasdaq notched record closing highs overnight as signs of easing global trade tensions lifted risk sentiment among investors.
Data showed US jobless claims unexpectedly fell last week, signalling a steady labour market despite sluggish hiring making it harder for the unemployed to find work.
The European Central Bank left interest rates unchanged on Thursday, pausing after seven straight cuts, and offered a modestly upbeat assessment of the euro zone economy.
The Federal Reserve is also widely expected to leave rates unchanged at its July 29–30 meeting, but markets continue to price in a potential rate cut in September.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.24 per cent to 957.09 metric tons on Thursday from 954.80 tons on Wednesday.
Spot silver was flat at US$39.10 per ounce, platinum gained 0.40 per cent to US$1,413.55 and palladium climbed 0.80 per cent to US$1,237.35.

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New Straits Times
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The Star
2 hours ago
- The Star
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The Star
2 hours ago
- The Star
Wall St ends lower as investors weigh tariff impact
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