Dubai: Gold steadied on Friday, but was set for a weekly decline as the dollar climbed to a near one-month high, while investors awaited key US inflation data to assess the Federal Reserve's monetary policy moving forward. Gold steadied on Friday, but was set for a weekly decline as the dollar climbed to a near one-month high, while investors awaited key US inflation data to assess the Federal Reserve's monetary policy moving forward.
According to Emirates News Agency, spot gold was steady at $5,000.40 per ounce, as of 0530 GMT, and was down about 1 percent for the week so far. Meanwhile, US gold futures for April delivery were up 0.4 percent at $5,019.10. The dollar was set for its strongest weekly performance since October, supported by a run of stronger-than-expected economic data and a more hawkish Federal Reserve outlook.
Elsewhere, spot silver edged 0.2 percent higher to $78.47 per ounce. Spot platinum ticked up 0.1 percent to $2,071.63 per ounce, while palladium gained 0.1 percent to $1,684.59.