Gold maintained a moderate position near the $2,460 price level during the early Asian trading session after its potential gains became more apparent amid the fall of the US dollar.
At 9.50 am, the price of gold recorded a position at $2,456.93 which was almost unchanged around 0.2% during the early trading of Friday's Asian session.
Market participants will focus on the preliminary US Michigan Consumer Sentiment Index for August along with Building Permits and Housing Starts.
Meanwhile, the release of encouraging employment data and strengthening retail sales data have reduced investors' hopes for an easing of US economic policy as well as fears of a potential recession.
However, the market still believes that the Federal Reserve (Fed) will immediately implement an interest rate cut at the September meeting as high as 80% around 200 basis points.
Data released by the US Census Bureau on Thursday showed that Retail Sales in the United States increased by 1.0% in July compared to a decrease of 0.2% in June.
Also, Initial Jobless Claims for the week ended August 10 came in at 227,000, better than expectations of 235,000 and down from the previous week's 234,000.
Recent stronger jobs data and upbeat Retail Sales have broadly strengthened the USD currency and weighed on positions in the precious yellow metal.
