Gold rises to one-week high, heads for weekly gain on easing oil prices

Meanwhile, gold demand in India was subdued this week as buyers held back purchases in anticipation of lower prices, while premiums in China remained steady, supported by robust investment demand. GOL/AS

"Gold is currently testing resistance near the $4,400 to $4,440 range and a move above this resistance level could clear a path higher for gold prices," said Gaffney.

Spot silver XAG= rose 1.8% to $66.37, platinum XPT= gained 1.7% to $1,798.30 and palladium XPD= added 1% at $1,303.46. All metals were headed for weekly gains.

Gold prices rose to a one-week high on Friday, and were on track for their first weekly gain in four, as lower oil prices eased concerns about prolonged inflationary pressures, though a stronger dollar limited gains.

Spot gold XAU= was up 0.3% at $4,352.39 per ounce by 11:17 a.m. EDT (1517 GMT), after hitting its highest level since September 11 earlier in the session. Bullion has gained 0.2% so far this week.