In other metals, spot silver XAG= slipped 0.8% to $63.92 per ounce.
Platinum XPT= decreased 1% to $1,700.60, while palladium XPD= eased 0.3% to $1,303.25, both at their lowest levels since August 4.
DATA/EVENTS (GMT)
0900
EU Total Trade Balance SA June
0900
EU GDP Flash Estimate QQ, YY Q2
1230
US Retail Sales MM July
1400
US U Mich Sentiment Prelim August
Geopolitics and central bank demand support bullion
On the geopolitical front, Washington on Thursday threatened to maintain a naval blockade of Iran indefinitely, ratcheting up economic pressure on Tehran as ceasefire talks have floundered.
Highlighting persistent demand for the metal, gold is on the rise again, as a confluence of economic and political dynamics spurs demand from investors around the world, especially one cohort: central banks.
Underscoring robust central bank interest in gold, the Bank of Korea bought and held 679,765 shares of SPDR Gold Trust, valued at roughly $250.4 million as of end-June, a U.S. SEC filing showed, marking its first disclosed gold investment since buying physical gold in 2013.
Venezuelan authorities plan to focus on reconstruction efforts and recovering gold reserves worth an estimated $4 billion held in the Bank of England's underground vaults, National Assembly chief Jorge Rodriguez said on Wednesday, as monthly inflation surged to 20%.
Gold slips as profits are taken after two-month high
Gold prices fell on Friday as investors locked in profits after non-yielding bullion climbed to an over two-month high in the previous session, with mild U.S. inflation data undermining expectations of a September Federal Reserve rate hike.
Spot gold XAU= was down 0.5% at $4,330.37 per ounce, as of 0103 GMT, while U.S. gold futures GCcv1 for December delivery slid 0.8% to $4,386.80.
Bullion climbed to its highest point since June 5 on Thursday, before settling 1.3% lower and wiping out its gains for the week.
U.S. producer prices were unchanged in July as goods prices fell and the cost of services increased marginally, bolstering market expectations that the Fed could keep interest rates unchanged next month.
The report from the U.S. Labor Department on Thursday followed news of mild consumer inflation last month.
Cleveland Fed President Beth Hammack reiterated her view that the U.S. central bank should raise rates immediately to restrain growth and too-high inflation.
GLD•
