Gold futures slip, set for weekly gains

Gold bars

Gold futures fell on Friday but remain on track to post weekly gains, as investors await US economic data following the end of the government shutdown.

December gold futures declined 0.45% to $4,175.90 per ounce, while remaining poised for weekly gains of over 4%.

Spot gold was steady at $4,171.85 per ounce, while spot silver rose 0.55% to $52.60.

The US Dollar Index, which tracks the greenback against a basket of six major currencies, stood at 99.18 at 10:01 a.m. Makkah time.

December silver futures fell 1.4% to $52.42 per ounce. Spot platinum rose 0.25% to $1,584.15, while palladium fell 0.35% to $1,421.53.

Investors currently assign a 52% probability to a 25-basis-point rate cut in the December FOMC meeting, while the probability of no change has risen to 48%, up from 33% last week, according to the CME FedWatch tool.