Gold prices fell on Friday as some investors locked in profits at the end of the week, but experts expect the market could advance towards $1,300 U.S. next week.
Spot gold was down 0.2% at $1,288.65 U.S. per ounce early Friday morning. Bullion was down about 0.4% for the week.
U.S. gold futures for December delivery dipped 0.3% to $1,288.60 U.S.
At least one expert said gold was supported by the release of the U.S. Federal Reserve's minutes on Wednesday, regarded as "dovish" and which lowered market expectations slightly of a March rate hike.
A December rate hike has already been priced in, and some add the Fed's cautious view of inflation could lead to a longer period of low interest rates which provides a solid platform for gold investment.
Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.
Spot gold has abandoned a bearish target at $1,283 U.S. per ounce as it seems to have found a support at $1,288 and is biased to break above a resistance at $1,296 U.S.
Among other precious metals, silver gained 0.1% to $17.071 U.S. an ounce and platinum gained 0.1% to $934.35 U.S. an ounce.
Palladium dipped 0.9% to $1,002.10 U.S. an ounce after hitting a two-week high of $1,013.70 in the previous session.
Silver slipped 1.2% for the week and is poised for its first weekly decline in three. Platinum lost 1.5%, on track for its first weekly fall in four. Palladium climbed 1.7% this week.