(RTTNews) - The price of gold was firm near its monthly high Friday morning as the dollar was trading mixed ahead of economic growth data.
Gold for August delivery, the most actively traded contract, added $8.20 to $1,623.30 an ounce. Yesterday, gold extended gains for a second session amid reports that European Central Bank President Mario Draghi has vowed to do whatever needed to preserve the euro.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,252.53 tons.
Meanwhile, the U.S. dollar was steady versus the euro, while continued to move lower against sterling. The buck was lingering near a weekly low versus the yen and trading flat against the Swiss franc.
The euro erased some of its recent gains against most of its major rivals after a report showed that the Spanish jobless rate hit a record level of 24.6 percent in the second quarter.
Unemployment rate in Spain increased in the June quarter, the latest figures from the statistical office INE showed. The rate rose to 24.63 percent in the second quarter from 24.44 percent in the first quarter. This was almost in line with economists' forecast of 24.65 percent.
Yesterday, the euro surged higher amid reports that European Central Bank governor Mario Draghi, in a speech at the Global Investment Conference, vowed that the central bank will do whatever is needed to preserve the euro.
The prices of silver and platinum were moving higher in morning deals.
From the U.S., the Commerce Department is due to release its advance estimate of second quarter GDP at 8:30 am ET. Economists expect GDP growth of 1.2 percent for the quarter following a 1.9 percent increase in the previous quarter.
