Gold is still searching for direction as concerns over the stand-off between Russia and the West over Ukraine abated, and Federal Reserve Chair Janet Yellen held pat on U.S. monetary policy.
U.S. gold futures for June delivery ended 10 cents lower at $1,287.60 an ounce, down 1 percent on the week. Meanwhile, spot gold dropped 0.1 percent to $1,288 an ounce.
ECB President Mario Draghi said on Thursday that the bank was ready to take action next month to boost the euro zone economy if updated inflation forecasts merited such a move.
"Our European economists are now calling for the ECB to cut rates across the whole interest rate corridor in June by 15 bps,'' UBS said in a note. "For gold, this has a negative read-through, principally through the FX impact.''