Gold futures edged lower Friday morning, having touched new 13-month highs last night.
The precious metal has been in high demand thanks to its perceived safe haven value and as a hedge against inflation.
Gold for April was down 8 dollars at $1265 an ounce, after topping out near $1290 yesterday.
Traders continue to assess the European Central Bank’s stimulus plan that was announced Thursday.
The ECB expanded the monthly purchases under the asset purchase programme by EUR 20 billion to EUR 80 billion starting in April.
In the U.S., the Labor Department will release its report on export and import prices for February at 8:30 am ET.
Economists expect import prices to have declined by 0.8 percent month-over-month, while export prices may have fallen by a more modest 0.5 percent.
The material has been provided by InstaForex Company – www.instaforex.com