Post: Gold Prices Steady Ahead of US Inflation Data

Doha: Gold prices were little changed in early Asian trading on Friday as investors awaited key US inflation data for fresh clues on the Federal Reserve's interest rate outlook ahead of next week's policy meeting. Spot gold stood at $4,208.46 per ounce, heading for a weekly decline of 0.5%, while US gold futures for December delivery slipped 0.1% to $4,237.70 per ounce. According to Qatar News Agency, yields on the benchmark 10-year US Treasury note hovered near their highest level in more than two weeks, while the US dollar weakened and remained near a five-week low against a basket of major currencies. Lower interest rates generally support demand for non-yielding assets such as gold. As for other precious metals, silver rose 0.5% to $57.40 per ounce after hitting a record high of $58.98 on Wednesday, and was on track for weekly gains. In contrast, platinum fell 0.4% to $1,640.25 per ounce, while palladium rose 0.9% to $1,461.67.