The price of gold rose on Friday to levels highest in over three weeks as the American dollar weakened.
Previously, United States Fed Chairman Jerome Powell shared that the central bank might be slowing down the pace of its interest rate hikes, as there are indicators that the economy in the country is softening. The announcement possibly led to the US dollar weakening, while making the bullion more appealing.
Gold added 0.48% to reach $1,764.58 per ounce at 3:27 am ET. Silver was up 0.30% to $20.07 per ounce a minute later.
Platinum gained 0.67% to sell for $897.59 per ounce at 3:31 am ET. Palladium fell 0.36% to go for $2,076.75 per ounce concurrently.
