In order to determine the Federal Reserve's next move on interest rates, traders are nervously awaiting highly anticipated US inflation statistics.
This has caused gold to ebb somewhat.
The price of gold has had a disappointing year, rising in March after Russia's invasion of Ukraine then falling by around 18% as a result of monetary tightening by central banks throughout the world.
Bullion fell this week as a result of remarks made by Bank of England Governor Andrew Bailey on the removal of emergency assistance by Friday.
The most recent economic statistics showed that prices paid to US manufacturers increased more than anticipated.
inflationary pressures would not ease quickly and that the Fed should continue on its aggressive rate-hike path.