Two key nations in the euro zone are slated to conduct national elections this weekend, which are under scrutiny in the debt-hobbled region. Greece has accepted two tranches of international bailout aid as it fights to stay solvent amid duress of the sovereign debt crisis. France is host of the region's second-largest economic system, trailing only that of Germany.
Both electoral events are likely to impact the euro, the performance of which is typically tracked by the yellowish metal.
At 8:34 a.m. on Friday, gold futures backtracked 0.19 percent, a $3.10 fall to $1,637.90 per troy ounce.
Investors, traders and other market enthusiasts are keeping a close eye on economic data scheduled to be released Friday by the U.S. government, MarketWatch reports. The U.S. Department of Labor was slated to disclose jobless claim information from April, which will become part of the conversation about whether the nation employs another round of economy-spurring measures that typically benefit the price of the precious metal.