Gold headed for a weekly loss, after traders pared bets on the Federal Reserve cutting rates next month following a pick-up in inflation.
Bullion traded near $3,340 an ounce, after ending the previous session 0.6% lower following a report that showed US wholesale inflation accelerated in July by the most in three years. Bond yields and the dollar advanced after the data print, weighing on non-interest bearing gold as it is priced in the currency.