Spot gold was steady at $1,317.03 an ounce at 0042 GMT, not far from a low of $1,315.06 an ounce.
Bengaluru: Gold prices languished near five-week lows on Friday, set for a weekly decline of more than 1 per cent on a stronger dollar, higher US Treasury yields and easing geopolitical concerns.
Spot gold was steady at $1,317.03 an ounce at 0042 GMT, not far from a low of $1,315.06 an ounce hit in the previous session - its weakest since March 21.
The metal was on track to fall over 1 percent this week, its second consecutive weekly drop and biggest decline in four weeks.
US gold futures GCcv1 were unchanged at $1,318 an ounce.
The dollar index .DXY was steady near a 3-1/2 month peak hit on Thursday, supported by strong US economic data and the US 10-year bond yield, which earlier this week hit its highest level since early 2014.
Smiling and holding hands, North Korean leader Kim Jong Un and South Korean President Moon Jae-in met at the heavily fortified demilitarised zone between the countries on Friday in the first summit for the two Koreas in over a decade.
Japan’s central bank is set to keep monetary policy steady on Friday and project inflation to hit its target next fiscal year.
European Central Bank chief Mario Draghi played down concerns over softness in the euro zone economy on Thursday as the ECB sought to bolster expectations for a gradual withdrawal of the ECB’s monetary stimulus.
Banks and brokerages expect a largely flat gold market over the rest of 2018 after a stubbornly uneventful few months, a Reuters poll showed on Thursday.
The rally in palladium is tipped to lose steam in the years to come as appetite for the metal abates after its surge to record highs, another Reuters poll showed on Thursday.
South African platinum producer Impala Platinum (Implats) said on Thursday its Marula mine was rebounding strongly and ramping up production.
Canadian miner Agnico Eagle Mines Ltd on Thursday said it sold some gold interests in the United States.
US Gold miner Newmont Mining Corp reported a higher-than-expected quarterly profit on Thursday.
China’s net gold imports via main conduit Hong Kong jumped 78.67 per cent in March from the previous month, data showed on Thursday.