Gold is set to gain 0.9% in a week

Gold approached its highest level in two months on Friday as inflation and geopolitical risks strengthened the safe haven metal as palladium was heading towards its best week since March thanks to strong demand.

And the price of gold in spot transactions fell 0.2% to $ 1835.13 an ounce. US gold futures fell 0.4% to $ 1,835.40.

Gold was up around 0.9% this week after prices jumped to a two-month high of $ 1,847.72 on Thursday as 10-year US Treasury yields fell.

Investors are now focused on the US Federal Reserve meeting in program for January 25-26, as it plans to raise interest rates to tackle inflation.

And the price of palladium in spot transactions jumped 0.8% to $ 2075.68 an ounce, to achieve a weekly gain of more than 10%. Platinum was up 0.1% to $ 1040.40, on its way to its best week since last June.

While silver stood at $ 24.44 an ounce on its way to record the best weekly gain of the year after climbing 6.4%.

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