Gold Prices Steady Ahead of Key U.S. Data Release

The gold prices remained steady on Friday, as the rise in U.S. Treasury yields offset the impact of a weaker dollar. Investors are eagerly awaiting key inflation data for guidance on the Federal Reserve's actions ahead of next week's meeting.

Gold, in spot transactions, stabilized at $4208.46 per ounce by 0358 GMT, and is on track for a 0.5 percent weekly decline.

U.S. gold futures for December delivery dropped 0.1 percent to $4237.70 per ounce. The ten-year U.S. Treasury yields hovered near their highest level in over two weeks, while the dollar declined and remained close to its lowest level in five weeks against a basket of currencies.

In regard to other precious metals, silver increased by 0.5 percent to $57.40 per ounce. It had reached an all-time high of $58.98 on Wednesday, aiming for weekly gains.

Platinum decreased by 0.4 percent to $1640.25, and is heading for a weekly loss. Meanwhile, palladium rose by 0.9 percent to $1461.67, appearing set to finish the week on a high note.