Prices fell 1% on Thursday after data showed the US economy grew more than expected in the December quarter
— Gold prices were little changed on Friday as traders awaited US inflation data, due later in the day, to gauge the Federal Reserve’s stance on further interest rate hikes.Investors are now awaiting US personal consumption expenditures data, the Fed’s preferred inflation measure, at 1.30am GMT for cues on the central bank’s path forward.
On Thursday, bullion prices fell 1% after data showed the US economy grew at a faster pace in the December quarter than economists had expected, prompting bets that the Fed will keep interest rates higher for longer. The GDP data points to a resilient US economy but there were some signs of challenges to the economy, which kindled some hopes of a less aggressive Fed, Yeap said.
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