Alors que cautious traders wait for data economic forecasts later today to assess the Federal Reserve's position on rate hikes, the gold price remained within a narrow range on Friday in thin trading.

U.S. gold futures rose 0.4% to $1,801.80 and spot gold was little changed at $1,792.80 per ounce at 0238 GMT. U.S. gold futures rose 0.4% to $1,801.80. Indeed, for indexes on inflation, investors' attention is turning to data on personal consumption expenditure (PCE) forecast at 13:30 GMT.

According to Brian Lan, managing director of the Singapore-based broker GoldSilver Central, “gold will be boosted if the data indicates that inflation has subsided a bit, which could raise expectations about a Slowing of rate hikes by the Fed.” During the previous session, bullion prices fell by more than 1% after U.S. economic data showed that the country's economy rebounded faster than expected. This boosted the dollar and potentially put the Fed on the path to slowing down the fight against inflation.

Cash increased by 0.3% to $23.63, platinum by 0.3% to $980.01, and palladium by 0.2% to $1,683.21.