Gold prices rose on Friday and were set for a third weekly gain as traders weighed Fed rate cut prospects.
Spot gold rose half a percent to $2,046.62 per ounce, while U.S. gold futures were up 0.6 percent at $2,047.40.
The dollar slipped while Treasuries held steady amid hopes that the U.S. Federal Reserve will start reducing interest rates from the first quarter of next year.
U.S. consumer spending moderated in October, the Fed's preferred inflation measure eased in the month and weekly jobless claims rose slightly, signaling that interest rate cuts are on the horizon.
Softer than expected eurozone inflation data also raised hopes the European Central Bank will begin cutting rates from early next year.
New York Fed President John Williams said Thursday that policymakers are likely done with interest-rate hikes, but decisions will continue to be data-dependent.
