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Gold prices stabilized on Friday as market focus shifted to US inflation data due next week, which is likely to provide a clear picture of the Federal Reserve’s monetary policy path.
Spot gold prices remained largely unchanged at $1,862.74 an ounce by 1209 GMT, after hitting the lowest since January 6 earlier in the session. Gold recorded a weekly decline of 0.1 percent.
US gold futures fell 0.1 percent to $1,875.90.
Investors are awaiting US inflation data due on February 14.
The dollar rose 0.2 percent against its rivals. A stronger dollar would make gold priced in the US currency less expensive for buyers of other currencies.
As for other precious metals, spot silver rose 0.5 percent to $ 22.08 an ounce, but it is heading towards recording a weekly decline, which will be the fourth in a row.
Palladium fell 2.1 percent to $1,595.24. Platinum rose 0.3 percent to $ 956.98, but it is expected to record the fifth consecutive weekly decline.
