Gold steadied on Friday after retreating from a more than six-week high hit in the previous session, with investors looking for cues on the health of the US economy from second-quarter gross domestic product data due later in the session. A recovery in the world's biggest economy would give the beleaguered dollar some respite from the recent sell-off, and also dent the likelihood for higher interest rates which benefits non-interest yielding and safe-haven gold. "Our feeling is that the (GDP) number will be in line to somewhat below the 2.8 figure forecast, in which case ...
Gold rebounds as US GDP beats estimate
The dollar index was nearly unchanged at 93.816 against a basket of six major currencies