Gold prices jumped 1% on Thursday after the Federal Reserve indicated it would be patient on raising interest rates and as the Bank of England defied expectations of more hawkish policy.
Gold prices were on track to end the week higher, as the non-yielding metal's appeal was boosted by major central banks standing pat on interest rates, with focus now shifting to a monthly U.S. jobs report due later in the day.
Gold prices jumped 1% on Thursday after the Federal Reserve indicated it would be patient on raising interest rates and as the Bank of England defied expectations of more hawkish policy.
Gold prices slipped on Wednesday ahead of a crucial Federal Reserve policy announcement, as investors await clues on the U.S. central bank's plan to taper its pandemic-induced stimulus amid signs of rising inflation.
Gold prices steadied on Wednesday as a softer dollar and a pullback in U.S. Treasury yields buoyed the safe-haven metal ahead of major central bank policy meetings this week and next.