$2,068.60Comments from Trading Economics:
Gold held around $2,040 an ounce on Friday and was headed for its third straight weekly advance, as weaker-than-expected US inflation data bolstered bets that the Federal Reserve is done with its tightening cycle and may start cutting interest rates next year. The US PCE price index rose 3% in October from a year ago, slowing from a 3.4% gain seen in the previous three months. Personal spending also moderated while continuing jobless claims reached a two-year high. US policymakers largely signaled that the tightening cycle is likely over, but left the door open to a further interest rate hike should progress on inflation stall. Investors now look ahead to Fed Chair Jerome Powell’s remarks on Friday for further guidance.