Due to the perception of a Dovish trend in the US Federal Reserve's interest rate hike strategy, gold rose slightly on Friday. It is thus moving towards a weekly gain, supported by the weakening of the dollar.

U.S. gold futures rose 0.7% to $1,758.30 while spot gold gained 0.2% to $1,758.41 an ounce at 0223 GMT, and rose 0.5% so far this week. Money on the other hand stabilized at $21.51, but was up about 3% for the week. According to the minutes of the November 1 and 2 meeting on Wednesday, a “substantial majority” of Fed policy makers agreed that it would be “probably. This puts the on track for a weekly drop, making gold cheaper for foreign buyers.

The retracement of the dollar has allowed gold to remain well supported because, according to Yeap Jun Rong, market strategist at IG, “the slowing pace of the rate outlook is seen as a sign of the apogee of falconry policy in order to further unravel the yellow metal's bearish positioning accumulated since the Start of year”.

Palladium strengthened 0.2% to $1,883.40, while platinum was little changed at $988.08.