- Gold prices rose in Asian trading on Friday, extending their gains, as strong U.S. inflation data was somewhat offset by a weak reading on the labor market.

- Gold prices were supported by a weaker dollar, which fell from two-month highs, as traders maintained bets that the Federal Reserve might cut interest rates in the coming months, albeit at a slower pace. However, gold remained well below its recent record levels.

- The spot price of gold rose by 1.4% to $2,645.60 an ounce, while December gold futures increased by 1.4% to $2,662.50 an ounce.

- The dollar fell from its two-month highs following jobless claims data, as the weakness in the labor market is expected to give the Fed more impetus to cut interest rates.

- Traders expect an 81% chance of a 25 basis point rate cut in November, according to the CME Fedwatch.

- Meanwhile, other precious metals rose on Friday, recovering a significant portion of their recent losses. Platinum futures rose by 3.2% to $987.85 an ounce, while silver futures increased by 2.9% to $31.558 an ounce.

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