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2016.07.1508:01:00UTC+00Gold Stuck Near $1330 Ahead Of CPI

Gold futures steadied Friday morning after losing ground earlier the week.

Optimism about the U.S. economy and the prospect of an interest rate hike later in the year took away some of gold's lustre.

The precious metal soared to 28-month highs during the Brexit crisis, but has since fallen on increased risk appetite.

Gold for August was up $1.20 at $1333 an ounce this morning, while silver trimmed significant recent gains to $20.28.

Traders will be paying close attention to U.S. inflation data within the hour.

The Labor Department is scheduled to release its consumer price index for June at 8:30 am ET. Economists expect the index to rise 0.3 percent month-over-month, while excluding food and energy, prices may have risen 0.2 percent.

Also at 8:30 am ET, the Commerce Department is due to release its retail sales report for June.

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