* Gold up 1.8% so far this week * Dollar on track for weekly loss * SPDR Gold Trust holdings rose 0.6% on Thursday * Platinum set for second straight weekly decline (Adds details, updates prices) By Brijesh Patel May 21 (Reuters) - Gold prices steadied on Friday, and were on track for a third straight weekly gain, as a weaker U.S. dollar and growing inflationary pressure boosted demand for the safe-haven metal. Spot gold was little changed at $1,874.60 per ounce by 0510 GMT, and has risen 1.8% so far this week. U.S. gold futures fell 0.3% to $1,876.10. "U.S. economic data has given us strong inflation alerts this week, meaning yields and the dollar have fallen, strong supportive factors for gold," OANDA senior market analyst Jeffrey Halley said. "Additionally, I believe that upward trading momentum has increased for gold as investors now believe that prices have made a structural low." The dollar hovered around recent lows against its rivals and was heading for a weekly loss, while benchmark 10-year Treasury yields fell. Recent data showing a rise in prices in the United States and the UK intensified concerns over inflation, lifting gold"s appeal as an inflation hedge. "Further stimulus are seen in different countries and these in the minds of many will lead to inflation moving forward," Brian Lan, managing director at dealer GoldSilver Central said. "On the longer term, we continue to be bullish on gold as the fundamentals that support owning gold have not changed and wouldn"t change for some time, in particular, the low-interest rates environment." Indicative of sentiment, holdings of SPDR Gold Trust , the world"s largest gold-backed exchange-traded fund, rose 0.6% to 1,037.09 tonnes on Thursday. Meanwhile, risk sentiment in wider financial markets remained upbeat, fuelled by hopes around a quick economic recovery. British retail sales surged by 9.2% in April as shops reopened, their biggest jump since a previous reopening in June, official data showed. Elsewhere, palladium fell 0.4% to $2,841.89 per ounce, silver eased 0.4% to $27.64. Platinum gained 0.2% to $1,197.97, but was on track for its second straight weekly fall. (Reporting by Brijesh Patel in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips) Our Standards: The Thomson Reuters Trust Principles.