Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum.
Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates.
"Last week, prices scaled record highs on bets of a September U.S. rate cut.
The U.S. personal consumption expenditure data for June — the Federal Reserve's favored measure of inflation — is due at 1230 GMT.
Meanwhile, India's demand for gold is likely to rise while moving into the fourth quarter, which is traditionally a robust seasonal period for gold demand," ANZ's Kumari said.
Persons:
Gold, Soni Kumari, Sugandha Sachdeva, ANZ's Kumari
Organizations:
Aurum, Federal Reserve, ANZ, SS, U.S ., Hong Kong
Locations:
U.S, New Delhi, China, Hong