Gold continued to stabilize near a one-month high on Friday, supported by market optimism over additional US stimulus thus increasing its attractiveness in precious metals as a hedge against inflation.
U.S. policymakers are nearing an agreement on a $ 900 billion grant that will cover the second round of direct payments to Americans affected by the coronavirus.
The precious metal also gained support from weak US dollar trading to its latest low of 2 and a half years following the Federal Reserve (Fed) decision on Thursday.
In today's Asian session, gold declined slightly trading around the $ 1,879 ounce, which may have been due to investors taking advantage before the trading session closed over the weekend.
Meanwhile, the yellow metal futures traded down at $ 1,885 per ounce (11.00 am Malaysian time).
During the previous New York session, gold trading managed to jump through the resistance level at $ 1,895 per ounce. This increase puts gold on track for a third consecutive week of gains.
