Gold prices rose on Friday, but are heading towards a weekly decline after retreating from record highs, with the US dollar and Treasury yields recovering ahead of a speech by Federal Reserve Chairman Jerome Powell that could provide clues to interest rate cuts.
By 0257 GMT, spot gold was up 0.2 percent at $2,488.74 per ounce, while U.S. gold futures gained 0.3 percent to $2,524.30.
The metal, which hit an all-time high of $2,531.60 on Tuesday, has fallen about 1 percent this week, weighed down by a rise in the dollar index and benchmark 10-year U.S. yields after an unexpected rise in the unemployment rate.
Federal Reserve policymakers on Thursday expressed support for starting interest rate cuts next month as inflation eases and the labor market shows signs of slowing, though one signaled he was in no rush to ease policy.
Elsewhere, US and Israeli delegations began fresh talks in Cairo to address differences over a truce proposal aimed at ending the war between Israel and Hamas.
Meanwhile, spot silver rose 0.2 percent to $29.03 an ounce, platinum gained 0.7 percent to $950.55 and palladium fell 0.7 percent to $926.75
