Gold was headed for a third weekly gain as hopes for a diplomatic resolution to the war in Iran and sustained buying by central banks outweighed persistent risks around inflation.
Bullion steadied near $4,765 an ounce on Friday, on track for a weekly gain of almost 2%. With key issues around the Middle East conflict unresolved, attention is turning to weekend negotiations in Islamabad, where a US delegation led by Vice President JD Vance is scheduled to meet Iranian officials. Traders will also be watching the US inflation report later on Friday.