The price of gold was little changed Friday morning, with the US dollar trading mixed versus a basket of currencies as traders await fresh catalysts.
Gold for August delivery, the most actively traded contract, edged up $0.60 to $1,329.40 an ounce. Yesterday, gold settled higher as the dollar drifted lower against a few major currencies after some soft weekly initial claims data for U.S. unemployment benefits, as investors continued to mull over the Federal Reserve's move on its quantitative easing program exit. Gold found support in some soft first-time claims for U.S. unemployment benefits, which increased for the week ended July 20.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 927.35 tons from 929.76 tons.
Meanwhile, the U.S. dollar continued to level-off from its one-month low versus the euro and sterling, while trading flat against the Swiss franc and the yen.
In economic news, Germany's import prices declined for a sixth consecutive month in June, the latest figures from the Federal Statistical Office showed. Import prices declined 2.2 percent year-on-year in June, after a 2.9 percent fall in May. The pace of decline, however, was the slowest in four months.
French consumer confidence improved to 82 in July from a revised reading of 79 a month ago, survey data from the statistical office Insee showed. Economists had forecast the index to rise to 79 from June's initially estimated record low level 78.
Euro zone's leading economic index increased for the third successive month in June, adding to hopes that the recession-stricken economy would recover in the second half, data from a survey by the Conference Board showed. The leading economic index moved up 0.5 percent on a monthly basis to 107.5 in June, marking the third successive growth. In May and April, the index rose by 0.4 percent and 0.1 percent respectively.
Elsewhere, the prices of silver and platinum were trading lower in morning deals.
From the U.S.., the Reuters and the University of Michigan are scheduled to release the final consumer sentiment reading for July at 9:55 a.m. ET. Economists expect the consumer sentiment index to be upwardly revised to 84 from the preliminary reading of 83.9.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.