After data showing a cooling in inflation cemented bets for a rate cut in the United States, gold prices seemed poised for a third consecutive weekly increase on Friday.

After increasing by more than $60 in November, its second consecutive monthly increase, spot gold rose 0.2% to $2,039.63 per ounce at 0301 GMT. Gold futures for delivery in February rose 0.1% to $2,059.30. Lower interest rates reduce the opportunity cost of holding non-interest-bearing bullion

Cash remained stable at $25.24 per ounce. Platinum fell by 0.3% to $924.17. Palladium rose 0.6 percent to $1,013.84 per ounce