Gold prices drifted lower on Friday as the dollar firmed up against most of its rivals.
Gold prices moved up early on in the session, riding on U.S. President-elect Joe Biden's announcement of a $1.9 trillion stimulus package proposal and the Federal Reserve's dovish outlook for the next year.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.