Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on January 9, 2009.
Gold hovered near a three month low on Friday and was set for its biggest weekly drop since February, as the dollar strengthened after U.S. Federal Reserve Chief Jerome Powell hinted about more interest rate hikes.
Spot gold ticked up 0.2% to $1,916.39 per ounce by 0450 GMT but stayed close to a three-month low hit earlier in the session.
"Gold has extended lower out of the range that it was occupying for a few weeks, suggesting there is more weakness ahead.
Palladium ticked 0.1% higher to $1,285.00 after hitting its lowest since May 2019 in the previous session.
Persons:
Jerome Powell, Ilya Spivak, Powell, Tim Waterer, Tastylive's Spivak
Organizations:
South Korea's, Nikko, U.S, Federal, KCM Trade
Locations:
Seoul, Powell, U.S