Gold

steadies Bengaluru

Gold remained steady on Friday and was on track for a monthly gain of one percent, as the dollar extended its losses after the Bank of Japan´s stimulus fell short of market expectations.

The Bank of Japan expanded monetary stimulus on Friday through a modest increase in purchases of exchange-traded funds, yielding to pressure from the government and financial markets for bolder action to spur growth and accelerate inflation towards its 2 percent target.  By coordinating its action with the government´s big fiscal spending package, the Bank Of Jaspan likely aimed to maximise the effect of its measures on the world´s third-biggest economy, which is struggling to escape decades of deflation.  The dollar last traded at 103.28 yen, down 1.8 percent. 

The dollar index, which measures the greenback against a basket of currencies, was down 0.4 percent at 96.363.