While the U.S. dollar has fallen and recent economic data has prompted bets that the Federal Reserve is nearing the end of its interest-rate hike cycle, the price of gold rose slightly on Friday, in preparation for a second egrave; my consecutive weekly gain.

U.S. gold futures rose 0.2% to $2,059.40. At 03:55 GMT, spot gold was up 0.2% to $2,044.09 per ounce, close to a one-year high reached on Thursday. Gold is seen as a safeguard against inflation and economic uncertainty, but rising interest rates are reducing the attractiveness of this yield-free metal. According to ANZ in a note, “silver prices have moved in tandem with gold prices.”

While platinum increased 0.8% to $1,055.14, cash rose 1% to $26.04 per ounce, reaching a one-year high. Both metals were on the verge of making a fifth consecutive weekly gain. At the same time, palladium gained 0.6% to $1,508.57.