Gold lowers

Reuters

Bengaluru

Gold was little changed on Friday but poised for the biggest weekly fall in seven weeks as investors sought out riskier assets, dampening demand for gold, which pays no interest.

Spot gold was steady at $1,263.81 per ounce, as of 0100 GMT.

Gold is on track for the largest weekly percentage fall since the week of March 10, down about 1.6 percent, but is heading towards a gain of about 1.2 percent for the month. 

The dollar index rose 0.2 percent to 99.231.  Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus programme.

The European Central Bank stuck to its ultra-easy policy stance on Thursday as inflation continues to undershoot its target but explicitly acknowledged the vigour of the euro zone economy, now on its best run since the global financial crisis.