- The European Central Bank should spell out its tolerance for overshooting its inflation target, ECB policymaker Francois Villeroy de Galhau said on Tuesday.
Gold prices inched higher on Wednesday, extending gains from the previous session after data showing a bigger-than-expected rise in US inflation boosted bullion's appeal as a hedge against it and weighed on the dollar and Treasury yields.
Spot gold rose 0.2% to $1,747.49 per ounce by 0125 GMT. US gold futures were steady at $1,747.40 per ounce.
Consumer prices in the United States soared by the highest in more than 8-1/2 years in March, setting off what most economists expect to be a fleeting spell of higher inflation.
The US dollar fell to three-week lows, making gold cheaper for holders of other currencies, while benchmark 10-year Treasury yields also inched down.
Concerns posed by a suggestion of US health officials to delay the use of Johnson & Johnson's COVID-19 vaccine also supported safe-haven gold.
The US economy could expand by 5% to 6% this year, boosted by increased vaccinations and solid fiscal assistance, but the Federal Reserve will not withdraw its funding just yet, Philadelphia Fed President Patrick Harker said.
The European Central Bank should spell out its tolerance for overshooting its inflation target, ECB policymaker Francois Villeroy de Galhau said on Tuesday.
China's exports rose sharply in March while imports growth surged to the highest in four years.
Bitcoin reached a new high of $62,741 on Tuesday, continuing its 2021 run to new heights just a day before the listing of Coinbase stock in the United States.
Silver rose 0.4% to $25.42 and palladium was flat at $2,689.44. Platinum was up 0.8% at $1,165.72.