Gold prices rise as the dollar falls; attention is focused on the Fed meeting and US inflation data.

As of 0241 GMT, spot gold was up 0.2% at $1,793.16 per ounce, but had fallen 0.3% so far this week. Gold futures in the United States rose 0.2% to $1,804.80.

Gold prices rose on Friday, helped by a weaker dollar, as investors awaited key US inflation data and the Federal Reserve's rate hike decision next week. As of 0241 GMT, spot gold was up 0.2% at $1,793.16 per ounce, but had fallen 0.3% so far this week. Gold futures in the United States rose 0.2% to $1,804.80.

The dollar index fell 0.1%. A weaker dollar increases the appeal of gold to buyers holding other currencies.

Gold is likely to rise as we approach next week's Fed meeting and CPI data, according to Clifford Bennett, chief economist at ACY Securities.

Market participants now expect the Federal Reserve to raise interest rates by 50 basis points during its policy meeting on December 13-14. Investors will also keep an eye on the United States. The November Consumer Price Index (CPI) report is due on December 13. If the Fed slows its pace as expected, combined with a relatively moderate CPI print, "then the dollar might weaken, and all of a sudden you could see a perfect storm rushing over gold's horizon," Bennett added.