Gold prices stabilized below $4,000 per ounce in Friday trading, heading for gains for the eighth consecutive week.

 

The rise in gold was supported by ongoing geopolitical and economic tensions, as well as increased expectations of further interest rate cuts in the United States.

 

Spot gold traded at $3,974.99 per ounce, marking a 2.2% increase so far this week, while futures rose 0.3% to reach $3,985.80 per ounce.

 

Silver climbed 1.6% to $49.89 per ounce after touching a record high of $51.22 in the previous session. Platinum increased 0.4% to $1,625.30, and palladium rose 1% to $1,426.