Gold prices held steady on Friday as investors awaited U.S. inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes.
Watchers of the shiny yellow metal reported spot gold was flat at $1,773.52 U.S. per ounce Friday. Prices have risen 0.6% so far this week.
U.S. gold futures eased 0.2% to $1,773.60 U.S. per ounce.
On Thursday, two Fed officials warned that inflation could rise more than policymakers’ expectation in the near term. Other U.S. central bank policymakers said employment needed much more improvement after job losses during the pandemic.
Investor focus now shifts to U.S. producer price data on Friday for further clues on rising inflation. U.S. non-farm payrolls data is due next week.
Offshore, the Bank of England said inflation would surpass 3% as Britain’s locked-down economy reopens, but the climb further above its 2% target would only be "temporary" and most policymakers favored keeping stimulus at full throttle.
Silver was steady at $25.87 U.S. per ounce, palladium eased 0.1% to $2,614.04 U.S.. Platinum climbed 0.5% to $1,089 U.S.
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