Gold futures pulled back from a four-month high on Friday but were on their way to strong gains for the week, buoyed by hopes of fresh stimulus by global central banks.
Gold for December delivery, or 0.1%, to $1,670.80 U.S. an ounce on the Comex division of the New York Mercantile Exchange.
The metal soared 2% Thursday on expectations that fresh monetary stimulus will help spur demand for the metal.
Weak manufacturing data from China and the minutes from the latest U.S. Federal Reserve policy meeting pointing to possible easing measures have underpinned a 3.1% rise for gold prices so far this week.
The broader metals complex tracked gold lower, with silver the outlier.
Silver for September delivery rose nine cents, or 0.3%, to $30.54 U.S. an ounce.
September copper fell two cents, or 0.6%, to $3.48 U.S. a pound.
Platinum for October delivery lost $13.70, or 0.8%, to $1,542.30 U.S. an ounce. Palladium for the same month’s delivery eased $10.55, or 1.6%, to $646.05 U.S. an ounce.
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