Gold prices pared gains on Friday as the dollar and Treasury yields rose after stronger-than-expected U.S. economic data that could influence the size of interest rate cuts from the Federal Reserve.
Spot gold inched higher 0.3% at $2,455.79, after rising as much as 0.9% earlier in the session. U.S. gold futures rose 0.6% to $2,493.60.
Separately, a Labor Department report showed the number of Americans filing new applications for unemployment benefits came in at 227,000 for the week ended Aug. 10, compared with an estimate of 235,000.
Following the U.S. data, the dollar rose 0.4% against its rivals, making gold more expensive for other currency holders, while benchmark 10-year Treasury yields also jumped.
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