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Gold prices stabilized on Friday after reaching their lows of one week in the previous session, supported by forecasts that big central banks would ease their monetary policy as investors wait US economic growth data expected later in the day.
The gold spot rose 0.1% to $ 1415.15 an ounce after falling to $ 1410.77 last week, its lowest level of the week before, a loss of 0.7% since the beginning of the week. Futures on US gold reached $ 1414.40. Market participants are currently turning to the US Central Bank's monetary policy meeting, to be held from July 30 to 31, as the bank is expected to lower its interest rates to US $ 30 billion. minus 25 basis points.
The ECB kept interest rates unchanged on Thursday but its chairman, Mario Draghi, said the bank was ready to lower rates in September.
On the currency markets, the dollar hit a two-month high on Friday and appears to be heading for a second consecutive week of gains as the market turns to US GDP data for the second quarter.
Dollar gains also benefited from the widening of the yield gap between US debt and German debt. The differences are also at the two-month high of 244 basis points.
The dollar index, which tracks the performance of the greenback versus a basket of currencies, rose 0.1% to 97.88, below the two-month high of 97.92 recorded during the first quarter. previous session.
(Agencies)
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