Gold prices edged higher on Friday, supported by a weaker dollar and safe-haven demand amid U.S. political concerns and tensions between the United Kingdom and Russia.
However, further gains were capped by expectations that the U.S. Federal Reserve would raise interest rates at its policy meeting next week. Spot gold was up 0.2 percent at $1,317.97 per ounce. U.S. gold futures for April delivery were little changed at $1,317.80. "As choppier markets seem likely, gold will remain a good hedge against unexpected spikes in equity market volatility and geopolitical tensions, in our view," UBS analysts said in a note.
Growing U.S. political uncertainties following the recent departure of two key officials, former Secretary of State Rex Tillerson and top economic advisor Gary Cohn, from the Trump administration have left investors worried.
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