Softer US producer inflation data fuels expectations of a pause in Fed rate hikes, lifting gold prices in early Asian trade.
Gold prices rose above $4,350, trading near $4,360 in early Asian trade, as weaker-than-expected US producer price index data reduced bets on a September Federal Reserve rate hike.
The move follows Thursday’s US inflation report, which showed a moderation in price pressures. Market focus now shifts to upcoming US July retail sales data for further direction.
XAU/USD held positive momentum, reflecting investor sentiment toward potential Fed policy easing.