Abu dhabi: Gold was headed for its first monthly gain in five months on Friday, despite edging lower in spot trading. Spot gold inched 0.2 percent lower at $4,096.29 per ounce, as of 01:07 GMT, but was headed for a weekly gain of 1.1 percent.
According to Emirates News Agency, US gold futures for August delivery gained 0.1 percent to $4,094.10. Meanwhile, spot silver held steady at $58.98 per ounce, platinum slid 1.3 percent to $1,638.97, and palladium fell 0.2 percent to $1,301.94.
The data indicates a positive shift for gold, marking a potential recovery after a period of decline. While spot gold showed a minor decrease in the latest trading, the overall trend suggests a positive outlook for the precious metal.