 "Gold flat as dollar and yields firm up ahead of US inflation data")
(Reuters) - Gold prices were flat on Friday, as an uptick in the dollar and U.S. Treasury yields pressured bullion, while investors awaited crucial U.S. inflation data later in the day.
FUNDAMENTALS
* Spot gold was mostly unchanged at $1,896.71 per ounce by 0054 GMT. Bullion has risen 0.8% so far this week and was on track for its fourth straight weekly gain.
* U.S. gold futures edged 0.1% higher to $1,899.50 per ounce.
* The dollar index was up 0.1% against rivals, making gold more expensive for other currency holders. [USD/]
* The U.S. 10-year Treasury yield rose to 1.617%, increasing the opportunity cost of holding non-interest bearing gold. [US/]
* Data on Thursday showed the number of Americans filing new claims for unemployment benefits dropped more than expected last week as layoffs subsided.
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* A separate report from the Commerce Department confirmed economic growth accelerated at a 6.4% annualised rate last quarter.
* Federal Reserve Bank of Dallas President Robert Kaplan said the labour market was tighter than levels of employment suggest.
* Investors now await the monthly U.S. personal consumption report due later in the day to gauge inflationary pressure.
* Fed officials have recently downplayed rising price pressures and affirmed their support to keep monetary policy accommodative for some time.
* Japan's unemployment rate crept up and job availability slid in April, data showed, underscoring the pain that the country's prolonged battle with COVID-19 is inflicting on the economy.
* Palladium was steady at $2,806.21 per ounce, silver eased 0.1% to $27.84 and platinum rose 0.1% to $1,180.81.
DATA/EVENTS (GMT)
0645 France GDP QQ Final Q1
0645 France CPI (EU Norm) Prelim YY May
0900 EU Consumer Confid. Final May
1230 US Consumption, Adjusted MM April
1400 US U Mich Sentiment Final May
(Reporting by Brijesh Patel in Bengaluru; editing by Rashmi Aich)