Gold hovered near an eight-week high hit in the previous session on Thursday as a weaker dollar and weaker U.S. Treasury yields boosted gold’s appeal, while palladium held near the previous session’s record high.
Spot gold was up 0.1% at $1,794.67 per ounce by 0115 GMT after hitting $1,797.41, its highest level since February 25, on Wednesday.
U.S. gold futures rose 0.1% to $1,795.40 per ounce.
Palladium rose 0.1% to $2,877.26 per ounce after hitting an all-time high of $2,891.20 per ounce on Wednesday, fuelled by supply worries for the auto-catalyst metal.
Benchmark U.S. 10-year Treasury yield was pinned below 1.6%, reducing the opportunity cost of holding a non-yielding bullion.
The dollar index fell 0.1% against its rivals, making gold less expensive for other currency holders.
According to a Reuters poll, the U.S. economy will grow at its fastest annual rate in decades this year, outperforming most of its major peers, but another COVID-19 surge is the greatest risk over the next three months.
Among other precious metals, silver eased 0.1% to $26.55 per ounce and platinum slipped 0.2% to $1,211.96.