Gold prices stabilized on Friday after a strong sell-off in the previous session as traders digested interest rate hike announcements from global central banks, but the yellow metal will post its first weekly drop in seven weeks amid a stronger dollar. .
And as of 0233 GMT, spot gold was up 0.2 percent to $1,916.31 an ounce after falling 2 percent amid selling on Thursday for a stronger dollar and profit taking. .
US Gold futures were little changed at $1,915.80.
Gold prices are up about $300 since November as the Federal Reserve has raised interest rates at a slower pace as the low interest rate environment reduces the opportunity to occupy the precious metal. . compensation.
After the US central bank raised interest rates by 25 basis points, after a year of strong increases, the European Central Bank and the Bank of England on Thursday raised interest rates by 50 basis points as expected .
Meanwhile, the dollar rose 0.1 percent, dampening gold prices.
In other precious metals, silver was up 0.3% to $23.5232 an ounce, while platinum was down 0.1% to $1,020.51 and palladium was up 0.1% to $1,020.51. $1,655.60.
Source: EuroNews
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