Ahead of day two of testimony, gold for August delivery GCQ7, +0.08% rose $2.70, or 0.2%, to $1,221.80 an ounce.
US CPI remained unchanged in June after falling 0.1 per cent the previous month and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter. Bond yields dipped and the dollar index slid to their lowest level since September 2016 after the weaker-than-expected figures. It was up 1.6pc for the week so far, which would be its biggest weekly gain since mid May. But the Fed and Ms Yellen have been waiting for this to happen for years, and it hasn't.
The kiwi was battered early in the week by disappointing domestic data but gained sharply toward the end of the week amid speculation the Reserve Bank may be more inclined to hike interest rates in the face of increases and bullish talk from other central banks including the Bank of Canada.
Friday's "data reaffirms the delay", he said.
Gold prices drifted lower in USA trading on Thursday as the dollar stabilised and global bond yields moved higher, although there was support on approach to the $1,215 per ounce level.
Russell's 9th-inning homer lifts Cubs past Orioles 9-8
There is definitely a chance the Cubs catch the Brewers with the addition of Quintana , but he is under club control through 2020. Over the past year Chicago has traded Gleyber Torres , Eloy Jimenez and Dylan Cease , all top five prospects in their system.
However, Mr Bassanese believes while the RBA will be annoyed by the Aussie dollar's climb, it will keep the cash rate at a record low of 1.5 per cent for a while yet.
"We also expect iron ore and coal prices to edge lower, which should put some downward pressure on the AUD". A stronger US currency weighs on gold, making the dollar - p riced commodity more expensive for non - USA investors.
"We expect the Federal Reserve to lift its policy rate further later this year and to begin to reduce its balance sheet, both of which should strengthen the United States dollars relative to the AUD", Mr Bloxham said.
Meanwhile, holdings at the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund fell 0.43 percent to 828.84 tonnes on Thursday from 832.39 tonnes on Wednesday.
"A move above US$16.20 could trigger quite a bit of accelerated buying from the funds", he said. Platinum rose 0.6 percent to $906.70 per ounce.
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