Seoul: Gold prices firmed on Friday and were on track for their biggest weekly gain since January, helped by weaker oil prices, while investors awaited key US nonfarm payrolls data for clues on the interest rate outlook.
According to Emirates News Agency, spot gold was up 0.6 percent at $4,262.39 per ounce, as of 0421 GMT after hitting a seven-week high on Thursday. Prices were up over 5 percent for the week, indicating a strong performance in the precious metals market.
In addition to gold, US gold futures also saw an increase, gaining 0.5 percent to reach $4,321.50. The upward trend extended to other precious metals, with spot silver adding 1.3 percent to reach $62.27, and platinum rising by 0.5 percent to $1,737.25. However, palladium experienced a slight dip, dropping 0.2 percent to $1,368.37. Despite this minor decline, all three metals were headed for weekly gains, reflecting a robust market performance.