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Gold Rises As Dollar Slips Ahead Of Fed Meeting

Gold prices rose on Friday and the dollar slipped against its rivals as investors look ahead to a Fed meeting next week for directional cues.

The dollar is on track to post its biggest weekly drop in more than three months amid expectations that the Federal Reserve will hold off on raising interest rates next week.

Spot gold rose half a percent to $1,302.71 per ounce after falling around 1 percent in the previous session. U.S. gold futures were up 0.6 percent at $1,302.45.

Investor risk appetite improved somewhat after U.K. lawmakers backed delaying the Brexit process and Chinese Premier pledged support for the slowing economy during his annual news conference at the end of the National People's Congress.

U.K. lawmakers have voted in favor of delaying the process of exiting from EU by at least three months, giving Prime Minister Theresa May some breathing space.

Elsewhere, the Bank of Japan kept its monetary policy steady, but cut its assessment on overseas economies, saying they were showing signs of a slowdown.

Investors seem to have ignored a fresh flare up in U.S.-China trade tensions after U.S. President Donald Trump said he was in no rush to complete a trade pact with China.

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