Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates.
Spot gold improved 0.2% at $2,369.99 U,S, per ounce, but has lost more than 1% for the week. U.S. gold futures climbed 0.6% to $2,368.30.
Out of the macroeconomic world, he U.S. personal consumption expenditure data for June — the Federal Reserve’s favored measure of inflation — is due at 8:30 a.m. EDT.
Data on Thursday showed that the U.S. economy grew faster than expected in the second quarter, but inflation pressures subsided, leaving intact expectations of a September rate cut.
Non-yielding bullion’s appeal tends to shine in a low-interest-rate environment.
Spot silver fell 1% to $27.70 U.S. per ounce and platinum steadied at $933.42. Both metals were on track for a third straight weekly fall.
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