Spot gold rose 1% to $3,915.31 an ounce after hitting a more than one-year low, but was down 3.5% for the week. Investors awaited US Producer Price Index data due at 1330 GMT.
Spot gold climbed 1% to $3,915.31 per ounce by 0322 GMT on Friday, after prices fell to their lowest level since October 2025 in the previous session. US gold futures for December delivery gained 0.9% to $3,919.60, while spot gold remained down 3.5% for the week.
Kelvin Wong, a senior market analyst at OANDA, described Friday's move as a positioning adjustment after short-term momentum indicators reached an extremely oversold level. He said a sudden turn in US Treasury yields could support gold by slowing the US dollar. Markets priced an 89% chance of a 25-basis-point US rate hike in December and an 11% chance of a 50-basis-point move. Investors awaited US Producer Price Index data due at 1330 GMT.
Spot silver rose 1% to $50.49 an ounce and palladium gained 2.1% to $1,014.50, though both were headed for weekly declines. Platinum rose 1.3% to $1,538.22 and was on track for a modest weekly gain.
