Gold futures prices rose, heading for their eighth consecutive weekly gain, amid ongoing geopolitical and economic uncertainty and growing expectations of a US interest rate cut.
During Friday's trading, gold futures for December delivery rose 0.4%, or $16.50, to $3,989.10 per ounce.
While spot gold fell slightly by 0.1% to trade at $3,973.16 per ounce, silver rose 0.7% to $49.6322 per ounce, after hitting a record high of $51.22 on Thursday.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.25% to trade at 99.29 as of 8:27 AM Mecca time.
Meanwhile, silver futures for December delivery rose 0.55% to $47.42 per ounce, while spot platinum prices fell 1.25% to $1,604.61, and palladium prices fell 2.3% to $1,387.45.
After the Federal Reserve resumed its monetary easing cycle in September with a 25 basis point interest rate cut, investors expect similar cuts in October and December, at 95% and 82%, respectively, according to Reuters
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