India, July 18 -- Gold prices edged higher on Friday while the dollar index pulled back slightly after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to counter rising growth and job market risks.
Spot gold rose 0.4 percent to $3,352.17 per ounce in European trade, but was set for a weekly loss after the release of strong U.S. economic data and amid easing concerns about the U.S. Federal Reserve's independence. U.S. gold futures for August delivery were up 0.4 percent at $3,357.90.
In remarks prepared for a gathering of Money Marketeers of New York University on Thursday, Waller stated that the Fed needed to bring its policy into neutral territory, instead of keeping it restrictive.
"I ...