Gold prices steadied on Friday, supported by an easing dollar and falling equities even as comments from global central banks suggested monetary tightening in Europe and Canada.
- Spot gold was nearly flat at $1,245.08 per ounce at 0104 GMT. It was set to end about 1 percent lower for the week, about 2 percent lower for month. For the quarter, gold is down 0.3 percent.
- S. gold futures for August delivery fell 0.1 percent to $1,245.10 per ounce.
- The world’s top central bankers have delivered what seems to be a collective message this week that quantitative easing is being put back in its box and interest rates are going up – and global markets are taking note.
- British Prime Minister Theresa May won backing for her policy programme with a slender parliamentary majority on Thursday in the first test of her authority after an election setback and growing pressure on her Brexit and austerity agenda.
- Gabriel Resources Ltd will seek $4.4 billion in damages from Romania for losses related to its long-stalled Rosia Montana gold mine project in a claim that the Canadian miner plans to file Friday with a World Bank Tribunal.
- The U.S. economy slowed less than feared in the first quarter due largely to a jump in consumer spending, providing a slightly more encouraging outlook for growth this year.