Gold inched lower on Friday on a strong dollar, but bullion was on track for a strong weekly rise driven by fears over a global recession due to the coronavirus even as central banks continued to unleash a wave of stimulus measures.

Spot gold was down 0.2% at $1,727.90 per ounce by 10:02 GMT, but was up more than 2.6% so far this week. U.S. gold futures gained 0.4% at $1,752.90.

Elsewhere, palladium climbed 2.5% to $2,029.02 an ounce, but was on track to post its fourth straight weekly decline. Platinum gained 0.8% to $761.36 per ounce, while silver eased 0.3% to $15.26.

Source : Reuters