Gold prices strengthened on Friday, putting the metal on track for its largest weekly gain since January. The upward momentum, supported by softer oil prices, comes as investors look toward upcoming US nonfarm payrolls data to gauge the future path of interest rates.
As of 0421 GMT, spot gold rose 0.6 percent to $4,262.39 per ounce, following a seven-week high reached on Thursday. For the week, prices have climbed more than 5 percent. US gold futures also saw gains, rising 0.5 percent to $4,321.50.
Other precious metals followed the trend, with spot silver increasing 1.3 percent to $62.27 and platinum rising 0.5 percent to $1,737.25. Conversely, palladium dipped 0.2 percent to $1,368.37. Despite the slight decline in palladium, all three metals are currently headed for weekly gains.
Source: Gulf Today
