Gold edged higher on Friday despite positive US CPI data which lifted prospects of further tightening by the Fed. However, gold closed the week lower after four consecutive weekly gains. The yellow metal rose a mil 0.2% and finished the day just below $1,232 an ounce. It posted a 0.52% loss for the week but managed to end off lows scored at $1,190 an ounce. On Friday, data showed US consumer price index was flat in January after falling 0.1% the previous month, while excluding the volatile food and energy categories, the so called core CPI rose 0.3%, the largest monthly increase since August 2011. Nevertheless, the greenback failed to sustain CPI inspired gains during the American afternoon. For more information, read our latest forex news.