2023.09.2210:10:00UTC+00Gold Edges Higher In Cautious Trade

Gold prices showed resilience on Friday despite lingering uncertainty over the Federal Reserve's rate trajectory.

Spot gold rose 0.3 percent to $1,925.52 per ounce, while U.S. gold futures were up 0.3 percent at $1,945.15.

Bullion prices traded higher despite a stronger dollar and firmer Treasury yields after the U.S. Federal Reserve kept interest rates unchanged but left doors open for further policy tightening.

Other global central banks are also expected to keep interest rates higher for longer to cool price growth.

The dollar stood near a six-month peak and was on course for its 10th consecutive weekly gain, buoyed by a fall in the euro after the release of sluggish Eurozone composite PMI data.

The Japanese yen fell sharply against the dollar after the Bank of Japan maintained super-low interest rates and left its yield control policy unchanged, offering no clear sign of a shift in its policy stance.

U.S. Treasury yields fell slightly after hitting a 16-year high on hawkish Fed outlook.