Despite indicators of slowing growth, gold prices remained above critical levels on Friday despite traders favoring the dollar in anticipation of additional signals on U.S. monetary policy from the Jackson Hole Symposium.

Spot gold slipped by 0.1% to $1,914.08 per ounce, meanwhile gold futures dipped 0.3% to $1,941.95 per ounce.

As gold bounced back from five-month lows touched earlier in August, it was also expected to have its first profitable week in five. The carefully regarded $1,900 per ounce level was also maintained by spot prices despite Friday's losses.

The possibility of increased U.S. interest rates, though, continued to cloud the outlook for the yellow metal. On Friday, the dollar reached a level not seen in over two months, while Treasury rates returned to levels not seen in decades.

Furthermore, two Federal Reserve officials backed the recent increase in bond yields, arguing that it further reduced rogue inflation and the U.S. economy's growth.

Market attention was now solely on Federal Reserve Chair Jerome Powell's speech at Jackson Hole, which was scheduled for later in the day.