Gold prices edged lower in Asian trading on Friday, poised for their first weekly decline in ten weeks, as investors booked profits following recent record highs and awaited crucial U.S. inflation data. Spot gold fell 0.4% to $4,109.55 per ounce at 01:35 ET (05:35 GMT), while U.S. gold futures slipped 0.5% to $4,123.70. The yellow metal had surged to an all-time high of $4,381.29 earlier in the week before retreating more than 5% on Tuesday.
Despite its impressive nine-week rally, gold was on track for a 3% weekly loss, driven by profit-taking and improving market sentiment after signs of easing U.S.-China tensions. Analysts noted that the pullback was natural following record-breaking gains, especially as investors awaited key economic data that could shape the Federal Reserve’s next move.
The White House confirmed that President Donald Trump will meet Chinese President Xi Jinping in South Korea next week, boosting hopes of a thaw in trade relations between the world’s two largest economies. Meanwhile, traders were focused on the delayed U.S. Consumer Price Index (CPI) report for September, seen as pivotal for the Fed’s policy outlook. Markets largely expect a 25-basis-point rate cut at the upcoming meeting, but the CPI outcome could sway sentiment. A softer reading could bolster gold by reinforcing expectations of monetary easing, while a stronger print might strengthen the dollar and Treasury yields, pressuring bullion.
The dollar held firm, on pace for a weekly gain, making gold more expensive for non-U.S. buyers. Nonetheless, analysts remain optimistic about gold’s long-term prospects, citing lower rate expectations and persistent geopolitical uncertainty.
Other metals also traded weaker, with silver futures down 1% at $48.13, platinum steady at $1,594.60, and copper slipping 0.5% to $10,832.20 per ton. China’s new five-year economic plan, emphasizing technological self-reliance and domestic demand, offered some optimism for future industrial growth.


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