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Gold Prices Remain Stable Amid Strong Dollar and US Economic Data

Doha: Gold remained steady in early Asian trade on Friday, heading for a weekly fall, weighed down by an overall stronger dollar and solid US economic data: Spot gold was steady at $3,337.60 per ounce. US gold futures declined to $3,343.10. Bullion is down 0.5% this week.

According to Qatar News Agency, the dollar index edged 0.1% lower against its rivals on the day, but was heading for its second straight week of gains, making greenback-priced bullion more expensive for other currency holders. This trend has contributed to the stability in gold prices, despite its weekly decline.

Spot silver edged 0.1% higher to $38.13 per ounce. Platinum rose 0.1% to $1,458.80, and palladium gained to $1,293.32. These movements in other precious metals indicate slight increases, contrasting with gold's steadiness amidst currency fluctuations and economic data influences.