According to state news agency WAM, gold prices are on track for a second consecutive weekly gain as the US dollar continues to decline and recent economic data suggests that the Federal Reserve is nearing the end of its rate-hike cycle.
As of 5:34am GMT, spot gold edged higher by 0.1% to $2,042.01 per ounce, hovering near a one-year high that was reached on Thursday. US gold futures also rose by 0.1% to $2,056.70.