Gold slips ahead of US inflation data

Gold bars

Gold prices declined on Friday amid continued uncertainty over the US–Iran ceasefire, though the metal remains on track for a third consecutive weekly gain, as markets await key US economic data.

June gold futures fell 0.75%, or $34.50, to $4,783.50 per ounce.

Spot gold slipped 0.3% to $4,753.54 per ounce, while silver rose 0.35% to $75.57 per ounce.

The dollar index, which measures the US currency against a basket of six major currencies, edged up 0.1% to 98.93 as of 09:15 a.m. Makkah time.

May silver futures declined 0.7% to $75.93 per ounce. Spot platinum dropped 1.85% to $2,062.11, while palladium rose 0.4% to $1,557.48.

Investors are awaiting US consumer price index (CPI) data for March, due later today, with expectations for monthly and annual inflation to accelerate to 1% and 3.4%, respectively.