Gold prices fell on Friday amid a slight rise in the dollar, while investors awaited a key US inflation report that could provide deeper insight into the Federal Reserve's policy trajectory, UNN reports, citing Reuters.
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Spot gold fell 0.5% to $3,300.59 per ounce by 03:13 GMT. Bullion fell 1.7% this week.
US gold futures fell 0.5% to $3,298.30.
The dollar index rose 0.2%, making gold more expensive for overseas buyers.
"Gold prices are currently more or less consolidating... we are seeing normal market phenomena, it's just that the range is a little wider right now, mainly due to confidence in the US dollar," said Brian Lan, managing director of GoldSilver Central in Singapore.
Investors are awaiting the April US Personal Consumption Expenditure (PCE) price index report. According to a Reuters poll, the US PCE is expected to remain at 0.1% month-on-month, while year-on-year is expected to be 2.2%.
San Francisco Fed President Mary Daly said on Thursday that policymakers could still cut interest rates twice this year, but rates need to remain stable for now to ensure inflation is on track to meet the central bank's 2% target.
Non-profit bullion typically benefits in a low interest rate environment.
Meanwhile, a federal appeals court on Thursday temporarily reinstated US President Donald Trump's broadest tariffs after a US trade court ruled on Wednesday that Trump had exceeded his authority by imposing the tariffs and subsequently ordered them to be lifted immediately.
US court suspends Trump's import duty cancellation: details of the decision29.05.25, 23:13
US trade talks with China have "stalled a bit" and a deal is likely to require direct involvement from Trump and Chinese President Xi Jinping, US Treasury Secretary Scott Bessent said on Thursday.
Spot silver fell 0.8% to $33.07 an ounce, platinum remained at $1,081.93, and palladium fell 0.3% to $970.43.