Gold Prices at One-Week High

Gold prices moved up on Friday, having hit a one-week high earlier in the session, as investors sought safe-haven assets amid fears of a chaotic departure for Britain from the European Union.

U.K. Prime Minister Theresa May's draft Brexit plan ran into dispute after the resignation of key ministers from her government and euroskeptic lawmakers stepped up efforts to topple her, provoking fears the country could crash out of the E.U. without a divorce deal.

Spot gold was up 0.2% at $1,214.93 U.S. per ounce early Friday

Earlier in the session, bullion hit $1,216.79, its highest since Nov. 9.

Prices are expected to end the week higher after declining nearly 2% last week.

Investors also kept an eye on the U.S.-China trade tensions as they looked for concrete signs the economic powers were seeking to de-escalate their dispute.

Among other precious metals, palladium edged 0.3% lower to $1,153 U.S. per ounce, having hit a record high of $1,178.30 per ounce in the previous session.

Palladium is on track to mark its biggest weekly gain since Sept. 21 having risen over 3% so far.

Silver was up 0.1% to $14.30 U.S. per ounce. The metal rose about 1% so far this week.

Platinum climbed 0.1% to $842.20 an ounce but was down about 1% for the week so far.