Gold prices edged higher on Friday, set for a second consecutive weekly gain, as the U.S. dollar tumbled and recent economic data prompted bets that the Federal Reserve is nearing the end of its rate-hike cycle, APA-Economics reports citing Reuters.
Spot gold was up 0.2% at $2,044.09 per ounce, as of 0355 GMT, hovering near a one-year high reached on Thursday. U.S. gold futures rose 0.2% to $2,059.40.
The dollar index slid to a one-year low, making bullion cheaper for buyers holding other currencies.
Spot silver climbed 1% to $26.04 per ounce, hitting a one-year peak, while platinum gained 0.8% at $1,055.14. Both metals were bound for a fifth straight weekly gain.
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