FUNDAMENTALS
Spot gold rose 0.2% to $1,724.80 per ounce by 0101 GMT. Prices were up 1.4% for the week so far, their biggest jump since the week ended Jan. 22.
U.S. gold futures was steady at $1,723.10.
Benchmark U.S. Treasury yields pulled further down from a more than one-year peak hit last week, reducing the opportunity cost of holding non-interest paying gold.
The dollar hovered near a one-week low against rivals.
The European Central Bank said on Thursday it would accelerate money-printing to keep a lid on euro zone borrowing costs, signalling to sceptical markets that it is determined to lay the foundation for a solid economic recovery.
The number of Americans filing new claims for jobless benefits dropped to a four-month low last week.
President Joe Biden prepared to tell Americans in a televised address that he is taking aggressive action to speed COVID-19 vaccinations and move the country closer to normality by July 4, hours after signing his $1.9 trillion stimulus bill into law on Thursday.
Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust , fell 0.5% to 1,055.27 tonnes on Thursday.
Silver climbed 0.1% to $26.11 an ounce, and was on track for its best week since late January with a 3.7% rise. Palladium gained 0.2% to $2,349.52.
Platinum rose 1.2% to $1,209.10 and was set to post its best week in four with a 7% gain.
DATA/EVENTS (GMT)
0700 Germany HICP Final YY Feb
0700 UK GDP Est 3M/3M Jan
0700 UK GDP Estimate MM, YY Jan
0700 UK Manufacturing Output MM Jan
1500 US U Mich Sentiment Prelim March
