Gold up 1.4 so far this week having hit oneyear peak on Thurs
U.S. dollar hits oneyear low
Eyes on U.S. retail sales data at 1230 GMT

April 14 Reuters Gold prices held near oneyear highs on Friday as recent U.S. economic data reinforced hopes that the Federal Reserve was close to the end of its ratehiking cycle, which drove nonyielding bullion towards a second straight weekly rise.

Spot gold fell 0.2 to 2,035.49 per ounce by 0935 GMT, with prices holding just below last session39;s highs since March 9. U.S. gold futures fell 0.3 to 2,049.40.

Gold is lower in the session as the opportunity cost of holding bullion is high since bond yields are rising, said Peter Fertig, an analyst with Quantitative Commodity Research.

Euro zone yields were near a monthhigh as focus shifted to the European Central Bank39;s tightening path, with ECB officials mentioning the chance of a 50 bps rate hike in May.

The Fed meanwhile considered a ratehike pause in March in the face of the sudden collapse of two U.S. regional lenders, yet inflationary pressures were seen as more important. The collapse pushed bullion over 2,000.

Since SVB, gold had been firmly reestablishing its primary role as a hedge against risk, StoneX analyst Rhona O39;Conell said.

Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim nonyielding bullion39;s appeal.

Limiting gold39;s losses, the dollar slid to a oneyear low after data this week showed consumer price…