Gold extends gains ahead of the weekend
2017-05-19 14:48:55 GMT (
Gold extends gains ahead of the weekend

Gold prices rose in American trade to carry on the gains of the week after a short hiatus on Thursday, as the dollar index falls to six-month low, amid a lack of data from the world's largest economy. 


As of 03:05 GMT, gold June futures rose 0.44% to $1,252.30 an ounce from the opening of $1,246.80, while the dollar index fell 0.58% to 97.31 from the opening of 97.79, marking a six-month low. 


Gold draw support this week from lower chances of a Federal Reserve rate hike in June as hopes fade for wide economic reforms by president Trump in healthcare, tax reforms and others. 



Markets await Saint Louis Fed president James Bollard's speech later today about the U.S. economy and monetary policy, while San Francisco Fed president John Williams will talk about policymaker's vision in El Camino school in Saint Louis. 



In the U.S., vice Attorney General Rod Rosenstein hired former FBI chief Robert Mueller as a special prosecutor in Russia's intervention in U.S. elections, which led to Donald Trump as the 45th president. 


Rosenstein  said that public good led him to put the investigation under an independent person, after reports accused Trump of intervening in a Federal investigation.


Reports said that Trump asked former FBI chief to drop an investigation into former national security adviser Micheal Flyn's relation with Russia, sparking speculation about Trump's firing of Comey later as retribution. 


Other reports said Trump disclosed highly classified information to Russian foreign minister Sergey Lavrov regarding ISIS in the White House last week, with the Democratic Party calling it a scandal alongside the alleged intervention in federal investigations. 


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