Gold prices were little changed on Friday, trading below a two-week peak hit in the previous session on bets of more aggressive interest rate hikes from the Federal Reserve following a sharp jump in U.S. consumer prices.
Spot gold was flat at $1,826.09 U.S. per ounce early Friday morning, but is poised for a weekly gain of about 1%. U.S. gold futures fell 0.5% to $1,827.40.
Pressure increased on the U.S. Federal Reserve to take a stronger stand against inflation after an unexpectedly large jump in U.S. consumer prices bolstered the view that the central bank is behind the curve.
Spot silver fell 1% to $22.94 U.S. per ounce, but remains poised for a weekly gain of about 2%.
Platinum was up 0.2% to $1,028.74 U.S., while palladium was steady at $2,255.88 U.S., and is set for a second weekly loss.