Gold edged up on Friday as hints of a slow economy in the US spurred some yellow metal demand, however, gains were capped in expectation of further hints from the most awaited inflation figures to decide the interest rate cut trajectory.

The yellow metal was poised for sharp dips following a plunge from record peaks during the previous five sessions, as projections for a sooner trim in US interest rates were mostly priced in by markets.

Spot gold ticked up by 0.2% to $2,335.86 per ounce, while gold futures added 0.2% to $2,335.68 per ounce.

Gold prices took a deep sigh amid the slump of the greenback that followed cooler than predicted GDP figures. However, this response was capped as the robust GDP price index figures drove trade to price out projections for the Fed's rate cuts.

Spot prices were poised to give up 2% this week, as they stretched a drop from record peaks touched previously in April. Prices had hit record peaks of average $2,430 per ounce.