Bengaluru — Gold prices edged higher on Friday as the dollar slipped against major peers ahead of US economic growth data that could shed light on the pace of US interest rate increases. Spot gold was up 0.2% at $1,224.40 an ounce at 4.30am GMT, but remained on track for its third straight weekly decline. US gold futures were 0.2% lower at $1,223.80/oz. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1% at 94.683. Against the yen, the dollar was down 0.2% at ¥110.97. A weaker dollar makes greenback-denominated gold cheaper for holders of other currencies. Meanwhile, the Chinese yuan stayed near a 13-month low against the dollar, as simmering US-China trade concerns weighed on economic outlook and investor sentiment. A relatively strong dollar against the yuan was limiting upside for gold, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. "There are concerns about rising US interest rates and the (US-China) tr...
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