Gold is still flat at its highest price level when capped by the recovery of the US Dollar Index (DXY) above the 104-point level since the beginning of the week.
At 8.40 am, gold prices were at $3,022.80, up 0.11% since it opened in early trading on Thursday in the Asian session.
Investors failed to get traction on Donald Trump's announcement to consider a limited and automotive tariff plan.
Although the price of the yellow metal did not move significantly, it is still firmly above the $3,000 support level and strengthens investors' hopes for it to rise higher.
Earlier, Minneapolis Fed President Neel Kashkari said that the Fed has made significant progress in curbing inflation. However, they still have more work to do.
However, he expressed confidence that in the next one or two years the central bank should be able to start cutting interest rates.
Meanwhile, money markets have priced in 64.5 basis points of Fed easing in 2025, according to the Prime Market Terminal interest rate probability.
Ahead of this week, traders are eyeing the release of the Fed's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index.
