Gold prices were moving lower on Friday as the dollar stood tall amid an uncertain outlook for rates and economic growth.
Spot gold fell 0.7 percent to $2,002.09 per ounce, while U.S. gold futures were down 0.7 percent at $2,006.55.
The dollar held firm after Federal Reserve Governor Michelle Bowman said in a speech today that policy rate will need to remain sufficiently restrictive for some time to bring inflation down and create conditions that will support a sustainably strong labor market.
Elsewhere, British Finance Minister Jeremy Hunt also said that the nation's inflation remains too high and there is still a long way to go.
Signs of growing stress in the U.S. banking sector and the impasses over the U.S. debt ceiling also helped spur safe-haven demand for the dollar.
U.S. Treasury Secretary Janet Yellen has warned that a default on the U.S. debt would be catastrophic and was "unthinkable".
U.S. reports on import and export prices and consumer sentiment may attract attention in the New York session. The latter includes readings on inflation expectations.
