As hopes of lower interest rates in the United States dwindled, boosting the dollar, the gold price was on track to experience its first weekly decline in four weeks on Friday.

Spot gold was up 0.1% at $2,054.10 per ounce at 0156 GMT. It has fallen by around 0.8% since the start of the week after three consecutive weekly gains. Gold futures rose 0.2% to $2,053.00 per ounce. The CME's FedWatch tool indicates that market participants have tempered their expectations for the easing of Fed monetary policy, estimating that there is a 65% chance of a rate cut by March, up from 90% a week ago

Spot silver rose 0.6% to $23.13 per ounce, while platinum slipped 0.3% to $953.61. Palladium rose 0.7% to $1,044.23 after a fall