Gold edged up on Friday, recovering from its lowest level in more than two months, but is still on course to post its worst week in 10 due to a firmer U.S. dollar.
Spot gold rose 0.2% to $1,795.10 U.S. per ounce overnight. Prices were down 2.7% for the week, their biggest weekly decline since Nov. 27. U.S. gold futures gained 0.4% to $1,797.60.
On Thursday, prices fell to their lowest since Dec. 1 at $1,784.76.
The dollar held firm at a more-than-two-month peak on Thursday, while longer-term U.S. Treasury yields rose as investors positioned for a large pandemic relief package from Washington and a stabilizing U.S. labour market.
Spot silver added 0.1% to $26.31 U.S. but were down 2.5% for the week. Prices have eased since hitting a near eight-year peak of $30.03 U.S. on Monday as the social media-driven rally fizzled out.
Australia’s Perth Mint said on Thursday its January silver coin sales jumped 23.5% from the previous month.
Platinum shed 0.1% at $1,096.88 U.S. an ounce and palladium gained 0.2% to $2,286.83 U.S.
