Gold prices edged higher in Asian trade on Friday, buoyed by a softer US dollar and a slight decline in Treasury yields, though the metal remains set for a small weekly drop. Spot gold climbed 0.4% to $3,994.03 per ounce, while US gold futures for December delivery rose 0.3% to $4,004.40 per ounce.
Despite the modest rebound, gold is still heading for a 0.3% weekly loss and has fallen nearly 8% since reaching its record high of $4,381.21 on October 20. The move reflects investor caution amid ongoing uncertainty around US monetary policy and global economic signals.
In the broader precious metals market, spot silver gained 0.7% to $48.31 per ounce but remains down 0.7% for the week. Platinum slipped 0.4% to $1,534.21, set for a weekly loss of about 2%, while palladium rose 0.3% to $1,379.33, poised for a 0.5% weekly gain.