Singapore: Gold prices fell in Asian trading on Friday, pressured by a stronger US dollar and data showing lower-than-expected US inflation, which reduced the appeal of the precious metal as an inflation hedge. Spot gold declined 0.3% to $4,319.07 per ounce, while US gold futures slipped 0.4% to $4,346.70.

According to Qatar News Agency, silver also retreated in spot trading, falling 1% to $64.79 per ounce, after closing at a record high on Wednesday. Despite the pullback, silver has surged 125% year-to-date, outperforming gold, which has gained about 65% over the same period.

Among other precious metals, platinum rose 0.5% to $1,924.59 per ounce after hitting its highest level in more than 17 years on Thursday, while palladium fell 1.1% to $1,677.68, retreating from its highest level in nearly three years.