Gold extends gains to fresh 1-week highs

Gold advanced sharply on Thursday, and extended gains during the American session to print fresh 1-week highs above $1,260 an ounce.

The metal was on demand ever since the day started as the dollar weakened broadly when the BoJ surprised markets by leaving policy unchanged, but gold’s rally was further fueled over the last hours, sending spot to a high of $1,266 an ounce so far.

Even the greenback managed to trim losses versus other currencies, the yellow metal advance wasn’t tempered. The metal was last trading around $1,263 an ounce, recording a 1.4% daily gain.