Gold jumped to a seven-week high and silver soared to a 15-month peak on Friday, as the dollar remained downbeat after the Bank of Japan surprised markets by standing pat on policy. The dollar and euro posted their biggest daily losses against the yen in more than five years on Thursday after the BOJ policy decision. The yen set an 18-month high against the dollar on Friday, and the greenback fell 0.4 percent against a basket of major currencies.
Spot gold climbed as far as $1,280.60 an ounce, its highest since March 11. It had pared gains to trade up 0.4 percent at $1,271.10 by 0645 GMT. For the week, the metal is up 3.2 percent in what would be its biggest weekly jump since the week ended February 12. Silver surged 2 percent to $17.867 an ounce, its highest since January 2015. It was on track for a fourth straight weekly gain.
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