Jan 21 (Reuters) - Gold prices were muted on Friday and were on course for a second consecutive weekly gain, as investors turned to safe-haven assets while awaiting signals on interest rate hikes from the U.S. Federal Reserve"s meeting next week. FUNDAMENTALS * Spot gold was unchanged at $1,838.21 per ounce as of 0035 GMT. U.S. gold futures were down 0.2% at $1,838.70. * Benchmark U.S. 10-year Treasury yields dropped on Thursday, reducing the opportunity cost of holding non-interest bearing bullion, and buoying gold. * Gold has gained about 1.2% so far this week and is en route to its second weekly gain in three this month — a positive start for bullion in a year that is expected to be difficult. * All eyes are on the U.S. central bank"s Federal Open Market Committee scheduled meet on Jan. 25-26 for any updates on the Fed"s existing plans for rate hikes against the backdrop of surging inflation. read more * Although gold is usually perceived as an inflationary hedge, it is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-interest bearing bullion. * The number of Americans filing new claims for unemployment benefits jumped to a three-month high last week. read more * Japan"s core consumer prices rose 0.5% in December from a year earlier. read more * Spot silver was down 0.4% at $24.34 an ounce, but is still set for its best week in a year — up about 6% so far. Palladium fell 0.6% to $2,047.05, and is poised for a weekly gain of about 9%. * Spot platinum dropped 0.4% to $1,034.98, but remains on course for its best weekly showing in seven months, having gained about 6.6% so far. Reporting by Bharat Govind Gautam in Bengaluru; editing by Uttaresh.V