Gold prices rose on Friday, heading toward their biggest weekly gains since January.
This was supported by falling oil prices and easing inflation concerns.
Meanwhile, investors are awaiting U.S. jobs data.
Spot gold prices rose today by 0.6% to $4,262.39 per ounce.
After hitting a seven-week high during Thursday’s session, Its gains have also exceeded 5% since the start of the week.
Meanwhile, U.S. gold futures rose 0.5% to $4,321.50.
Investors are awaiting the U.S. nonfarm payrolls report for July.
In search of new signals regarding the path of U.S. interest rates in the coming period.
The decline in oil prices also helped ease inflation expectations.
This has boosted the appeal of gold.
Analysts believe that the $4,000 level provides strong support for gold, with the potential for a continued rise toward $4,600.
Among other metals, silver and platinum rose, while palladium posted a modest decline.
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