Gold prices stabilized near $1990 an ounce on Friday, with data showing the U.S. economy grew lower than expected in the first quarter as business investment growth slowed.
On the other hand, inventories have fallen and interest rates have continued to hit the housing market.
According to US media, speculation that the US Fed could soon end its strong rate hike cycle has also boosted bullion prices.
However, major central banks are expected to tighten policy further, with the Federal Reserve and the European Central Bank set to raise interest rates again in May.
Gold is reported to be highly sensitive to price expectations, as high interest rates raise the opportunity cost of non-yielding bullion acquisition and vice versa.
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