2022.05.1309:58:00UTC+00Gold Holds Steady Near Three-month Low

Gold prices held near a three-month low on Friday and were set for their fourth straight weekly fall, as equities rebounded and the dollar held near a fresh 20-year high scaled the previous day.

Spot gold edged up 0.1 percent to $1,824.02 per ounce, while U.S. gold futures were down 0.1 percent at $1,823.12.

The dollar index was a tad lower in European trade, while Treasury yields were on the rise after the U.S. Senate confirmed Jerome Powell for a second four-year term as Federal Reserve Chair.

Powell said in an interview that the battle to control inflation would "include some pain" and the U.S. central bank would manage to tighten borrowing costs without going so far as to tip the economy into recession.

In economic releases, French inflation was confirmed at an annual 5.4 percent in April.

Industrial output in the euro zone fell an annualized 0.8 percent in March versus a -0.6 percent decline expected, Eurostat data showed.

U.S. import and export prices for April and University of Michigan's preliminary consumer sentiment index for May are set for release in the New York session.