Gold set for third weekly gain; ounce hits $4,537.41

Gold prices rose today (Friday), heading for a third consecutive week of gains, supported by a decline in the US dollar and moves by the US Treasury Department to repurchase bonds.

Spot gold rose 0.4% to $4,537.41 per ounce, after reaching its highest level since early June in the previous session. The precious metal has gained 3.6% since the start of the week. Among other precious metals, spot silver rose 1.3% to $68.93 per ounce. Platinum rose 2% to $1,865.29, and palladium climbed 0.8% to $1,344.44.

All three metals are on track for weekly gains.