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Gold was steady in thin trading, but was on course for a weekly decline as higher oil prices fuelled inflation worries and expectations of higher-for-longer interest rates.
Spot gold was steady at $4,620.57 per ounce, as of 0248 GMT, but was on track for a weekly loss of 1.8 per cent, having dropped to a one-month low on Wednesday. US gold futures for June delivery rose 0.1pc to $4,632.70.
“In the Asian session, the market is going to be quite thin because of public holidays, so we’re really in a bit of a crossroads, or at least waiting for the next catalyst to make more of a directional move,” said Kyle Rodda, a senior financial market analyst at Capital.com.
