22.09.201708:18:00UTC+00Gold Hovers Near $1300 Amid U.S.-North Korea Tensions

Gold futures inched higher Friday morning, trimming steep losses from earlier in the week as traders continued to assess the Federal Reserve's interest rate announcement.

On Wednesday, Yesterday, the Federal Reserve maintained their so-called 'dot plot' of rate projections for this year and next, strongly hinting at a December rate hike.

Also, the Fed said it will begin shrinking its bloated $4.5 trillion portfolio in October by allowing $10 billion in bonds to mature without replacing them.

Dec. gold was up $4 at $1299 an ounce, with the precious metal supported by its safe haven appeal and the war of words between Kim and Trump is heating up.

The flash Composite Purchasing Managers' Index for the September will be issued at 9.45 am ET. The economist are looking for consensus of 54.9, down from 56.0 a month ago.

Atlanta Fed Business Inflation Expectations for September will be published at 10.00 am ET. The prior month business inflation expectations were up 1.9 percent.

Kansas City Federal Reserve Bank President Esther George will deliver the keynote address at the "Global Oil Supply & Demand: Prospects for Greater Balance" Conference in Oklahoma City, with audience Q&A at 9.30 am ET.