Spot gold gained 0.5% to $2,605.41 per ounce by 0941 GMT, but is down about 1.6% for the week. US gold futures rose 0.4% to $2,619.40 per ounce.
Investors are awaiting core PCE data, the Fed’s preferred inflation gauge, for more insights into the US economic outlook.
The US economy grew faster than expected in Q3, while jobless claims fell, reinforcing expectations of a cautious approach to monetary easing.
Higher interest rates diminish the appeal of non-yielding gold.
Among other metals, spot silver fell 0.4% to $28.91 an ounce, heading for its worst weekly performance since December 2023. Platinum and palladium also saw declines, down 0.3% to $920.94 and $903.25, respectively.
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