Gold prices bounced back on Monday as the dollar trimmed its initial gains that were driven by bets that OPEC's surprise output cuts could jack up global energy prices and force central banks to hike interest rates.
China should accelerate legislation of the Financial Stability Law and improve other legal arrangements designed to prevent and dispose of financial risks, three officials from the People's Bank of China (PBOC) wrote in China Finance, a publication affiliated to the central bank.
Gold edged lower on Friday, even as prices are on track for their best month in more than two-and-a-half years after the global banking turmoil drove bets that the U.S. Federal Reserve would tone down its rate hike approach.
The U.S. House of Representatives on Thursday passed a Republican energy reform bill intended to bolster U.S. oil and gas production while scaling back climate initiatives, the first major legislation of House Speaker Kevin McCarthy's majority.
The Republican-controlled U.S. House of Representatives is expected to vote on its first major legislation of the year on Thursday, a partisan energy bill that poses an early test of unity for House Speaker Kevin McCarthy's majority.