Bengaluru: Gold prices were little changed amid a steady dollar on Friday, halting a five-day rally as investors wait for key U.S. inflation data for clues on the outlook for potential hikes in U.S. interest rates.
Spot gold was nearly unchanged at $1,293.76 an ounce at 0054 GMT after gaining for five straight sessions.
The dollar steadied in early Asian trading on Friday, on track for weekly losses as investors awaited the U.S. inflation data to gauge the likelihood that the Federal Reserve will stick to its plan to raise interest rates again this year.
U.S. producer prices rose in September as the price of gasoline recorded its biggest gain in more than two years amid hurricane-related production disruptions at oil refineries in Texas.
The Fed needs to mount a clear defence of its 2 percent inflation target and stop raising rates until the pace of price increases strengthens, St. Louis Fed President James Bullard said on Thursday.
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