Gold barely moved on Friday post touching back a key level as slowdown in US retail sales figures, raised some questions about the timing of Fed's interest rate reduction.

On Thursday, bullion recovered above the $2,000 an ounce level, following a significant decline below the level previously in the week. Gold was buoyed by the figures that demonstrated that Japan is experiencing a session.

Spot gold muted at $2,003.86 per ounce, while gold futures traded flat at $2,015.55 per ounce. The two instruments were poised to give up 1.1% this week- touching the lowest point since the beginning of December.

Although markets hope for early interest rate cut was dashed, the yellow metal was still expected to see sharp weekly losses, particularly in light of this week's hotter-than-expected consumer price index inflation figures.

A slew of Fed policymakers stated that that the central bank is in no rush for interest rate hike, considering that the US economy, inflation and the labor figures are still solid.