Gold rose to its highest in over a week early Monday, extending gains from the previous session, after Federal Reserve Chair Janet Yellen skipped any mention of monetary policy in a speech at a central bankers meeting in Jackson Hole. Spot gold rose 0.2 percent at $1,293.62 an ounce by 0046 GMT, after reaching its highest since Aug. 18 at $1,294.70 earlier. It gained nearly 0.4 percent in the previous session. US gold futures for December delivery were nearly unchanged at $1,298.60 per ounce. The euro hit a 2 1/2-year high against the dollar early on Monday after European Central Bank President Mario Draghi refrained from talking down the single currency.

The European Central Bank’s ultra-easy monetary policy is working and the euro zone’s economic recovery has taken hold even if more time is needed to lift inflation to the bank’s 2 percent target, ECB President Mario Draghi said on Friday. Reforms put in place after the 2007 to 2009 crisis have strengthened the financial system without impeding economic growth and any changes to these rules should remain modest, Yellen said on Friday in her fullest defense yet of the regulations enacted after the Great Recession. Yellen also delivered a message to President Donald Trump on Friday, making it clear that if he re-nominates her as Federal Reserve chair she will not turn her back on the raft of U.S. financial reforms that Republicans want to roll back.

Low inflation and a strong labor market in the United States are allowing the Federal Reserve to be “patient” about when it next raises interest rates, Fed Governor Jerome Powell said on Friday. Dallas Federal Reserve Bank President Robert Kaplan repeated on Friday his call for patience on raising interest rates any further, but speed on starting the reduction of the Fed’s $4.5 trillion balance sheet. U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the 23-year-old agreement.

India restricted imports of gold and silver from South Korea from Friday, the government said in statement.