Gold prices slipped on Friday as the dollar ticked up, with traders awaiting U.S. inflation data due later in the day to gauge the Federal Reserve's likely stance on further interest rate hikes.
Spot gold fell 0.4% to $1,921.32 per ounce, as of 0452 GMT, shedding 0.3% so far in the week. U.S. gold futures were off 0.4% at $1,921.60.
Gold is seeing a pull-back as the dollar is on the higher side and the U.S. GDP data is also slightly pressuring prices, said Ajay Kedia, director at Kedia Commodities, Mumbai.grew at a faster pace in the December quarter than economists had expected, prompting bets the Fed would keep rates higher for longer.
Traders broadly expect the Fed to scale back rate hikes to 25 basis points at its Jan. 31-Feb. 1 meeting, from 50 bps in December.
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