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2018.06.2908:14:00UTC+00Gold Nudges Higher After Recent Drubbing

Gold futures steadied Friday morning after a last-minute deal on immigration may have saved Angela Merkel's government in Germany.

Meanwhile, Eurozone inflation rose to 2 percent in June, in line with forecast, and up from 1.9 percent in May on food and energy prices. The European Central Bank targets 'below, but close to 2 percent.

Gold was up $2 at $1252 an ounce, having fallen to its lowest of the calendar year.

U.S. personal Income and Outlays for May will be issued at 8.30 am ET. The consensus is for increase of 0.4 percent, versus 0.3 percent in the prior year. Consumer spending is expected to be at 0.4 percent, lower than 0.6 percent last month.

The Institute For Supply Management - Chicago's Purchase Manager's Index for June will be published at 9.45 am ET. The consensus is for 60.1, down from 62.7 in May.

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