This news somewhat offset the weakness caused on Wednesday by the U.S. Federal Reserve monetary policy meeting minutes that showed policymakers were concerned about the impact of low inflation on the economy. "We have seen a reduction in the underlying trend rate of inflation that is material," and the cause remains "a bit of an open question," Brainard said during a discussion at the Peterson Institute for International Economics. Stronger consumer inflation data on Friday could create resistance for the precious metal along with increased demand for higher risk assets, a firmer U.S. Dollar and rising Treasury yields.