Gold Steadies As Dollar Rally Cools, Set For Worst Week In Six

U.S. gold futures were down 0.3% to $1,871.

The dollar index was off its two-month peak but was on track for its best week since early-April, up 1.5%, making gold more expensive for holders of other currencies.

“With the data front quiet, it appears that investors want to stay nimble and hedged by leaving their money in dollar, rather than moving to precious metals or U.S. bonds,” said Jeffrey Halley, a senior market analyst at OANDA.

Investors also grew hopeful after a lawmaker on Thursday said Democrats in the House of Representatives were working on a $2.2 trillion coronavirus stimulus package that could be voted on as soon as next week.