Gold Vaults on Geopolitical Concerns

Gold looked toward a second consecutive weekly gain on Friday as political uncertainty south of the border and a suspected Islamist attack in Spain boosted bullion's safe-haven appeal.

Spain mounted a sweeping anti-terrorism operation on Friday after a suspected Islamist militant drove a van into crowds in Barcelona, killing 13 people in what police suspect was one of a planned wave of attacks.

Markets were also uncertain about U.S. President Donald Trump's ability to push ahead with policies after the disbandment of two high-profile business advisory councils over his remarks on violence in Virginia.

Spot gold rose by 0.6% to $1,295.34 U.S. an ounce and is on course to extend last week's gain of 2.5%.

Experts say spot gold faces resistance at $1,291 U.S. an ounce and could hover below this level or retrace towards support at $1,271 U.S. again.

Among other precious metals, silver climbed 1.3% to $17.215 U.S. an ounce, having touched a two-month high of $17.25 U.S.

Platinum was up 1.4% at $986.30 U.S. an ounce, on track for a third straight week of gains.

Palladium touched a 16-year high of $932.50 U.S. before giving back some gains to trade 0.3% up at $929 U.S., on course for a weekly gain of about 4%.