Gold rose more than 1 percent on Friday and ‌was set for its first weekly gain in five, as investors dialled back expectations for US rate hikes.

Spot gold was up 1.3 percent at $4,177.31 per ounce, as of 04:16 GMT, ​hitting its highest level since 23rd June.

US gold futures for August delivery ​gained 1.6 percent to $4,190.70.

Spot silver rose ⁠2.3 percent to $62.41 ​per ounce, platinum gained 2.5 percent to $1,656.05, and palladium ​climbed 1 percent to $1,281. All three metals were near their highest levels in more than a week and headed ​for weekly gains.