While gold was on the verge of a weekly gain, it fell slightly on Friday as investors waited for clues about the US economy to anticipate the Federal Reserve's 2025 interest rate trajectory and administration policies incoming from Donald Trump

US gold futures fell by 0.2% to $2,649.10. Spot gold fell 0.2% to $2,630.28 per ounce at 0221 GMT. The ingot has gained 0.3% since the start of the week. The price of gold has jumped by nearly 28% this year, reaching a record $2,790.15 on October 31, driven by substantial Fed rate cuts and escalating geopolitical tensions. Gold is seen as a protection against geopolitical turmoil and inflation, but rising interest rates are reducing the appeal of this non-yielding asset

Spot silver fell by 0.2% to $29.75 per ounce and palladium lost 0.3% to $922.58, while platinum gained 0.1% to $936.85. All three metals headed for weekly gains.