Gold Price Trims Steep Weekly Losses

Washington (May 19)  Gold futures inched higher Friday as traders went in search of bargains. The precious metal had fallen to a yearly low this week, as the dollar strengthened amid tal of an interest rate hike.

Gold rose USD3.60 to USD1292.90 an ounce.

The economic newsflow was light today. A trio of Federal Reserve speakers had little to say about monetary policy.

Eurozone trade surplus increased in March from a month earlier, as exports grew faster than imports, data from Eurostat showed Friday.

The seasonally adjusted trade surplus rose to EUR 21.2 billion in March from EUR 20.9 billion in February.

Canadian inflation remains tame. The Consumer Price Index rose 2.2% on a year-over-year basis in April, following a 2.3% increase in March. On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.1% in April, matching the increase in March.

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