Gold prices were largely unchanged on Friday, but the precious metal is still on track to record its third consecutive weekly gain.
The rally has been supported by a weaker U.S. dollar and recent actions by the U.S. Treasury aimed at easing pressure from rising long-term bond yields.
Spot gold was trading at $4,514.23 per ounce, marking a gain of about 3.2% since the beginning of the week. Gold futures closed at $4,571.20 per ounce.
Despite expectations surrounding future Federal Reserve interest rate decisions, gold has continued to attract support. At the same time, recent U.S. labor market data has shown that the economy remains relatively stable.
Other precious metals also posted strong performances during the week. Silver settled at $68.03 per ounce, while platinum climbed to $1,846.29 per ounce. Palladium also moved higher, reaching $1,333.11 per ounce.
The latest gains highlight continued investor interest in precious metals as they monitor economic conditions, interest rate expectations, and movements in the U.S. dollar.
