Gold prices held steady on Friday after two weeks of strong rally on heightened Middle East tensions and expectations that the Federal Reserve will keep interest rates unchanged at its November policy meeting.
Spot gold was marginally higher at $1,986.13 per ounce, while U.S. gold futures traded with a negative bias at $1,995.95.
Gold is consolidating under $2,000 a barrel after overnight data showed the U.S. economy grew at a 4.9 percent annualized rate in the third quarter, above forecasts and the roughly 2 percent pace seen in the prior two quarters reflecting a surge in consumer spending.
In other economic news, durable goods orders jumped more than double economist's expectations in September, while initial jobless claims rose last week but still reflected a robust workforce.
Investors now await the Commerce Department's report on personal income and spending in September later in the day for further direction. The report includes readings on inflation said to be preferred by the Federal Reserve.
Traders also kept a wary eye on the situation in the Middle East after the Israeli military said its troops and tanks had briefly entered northern Gaza.
In another significant development, a U.S. military attack on facilities in Syria linked to Iran stoked concerns over a widening of the Israel-Hamas conflict.
