Washington: Gold prices climbed on Friday to their highest level in over three months, heading for a third consecutive weekly gain.

Spot gold rose to $4,617 per ounce until time of publishing, hitting its highest level since May 15. US gold futures gained 1.7% to settle at $4,647.

The precious metal recorded a 5% weekly gain, having reached its highest daily level since early February on Wednesday.

Among other precious metals, spot silver surged 2% to $69.43 per ounce, platinum gained 3.8% to $1,897.36, and palladium advanced 0.6% to $1,342.30.