Gold on track for biggest weekly decline in seven weeks
Gold was little changed on Friday but poised for the biggest weekly fall in seven weeks as investors sought out riskier assets, dampening demand for gold, which pays no interest.
Spot gold was steady at $1,263.81 per ounce, as of 0100 GMT.US gold futures eased 0.1 per cent to $1,264.90 an ounce. The dollar edged up in Asian trading on Friday. The dollar index rose 0.2 per cent to 99.231.
Gold is on track for the largest weekly per centage fall since the week of March 10, down about 1.6 per cent, but is heading towards a gain of about 1.2 per cent for the month.
Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus programme.
The European Central Bank stuck to its ultra-easy policy stance on Thursday as inflation continues to undershoot its target but explicitly acknowledged the vigour of the euro zone economy, now on its best run since the global financial crisis.
Euro zone economic sentiment climbed to a near 10-year high in April against expectations of almost no change as confidence in all sectors improved and inflation expectations dampened, EU data showed on Thursday.
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